AirSource wind project developed under Canadian Renewable and
    Conservation Expense program

    OAKVILLE, ON, July 4 /PRNewswire/ - AirSource Power Fund I LP
("AirSource") today announced that operational testing of the St. Leon Wind
Energy project under the Canadian Renewable and Conservation Expense (CRCE)
phase of the project is well underway. It is intended that results from the
Test Plan will provide AirSource with confirmation regarding the available
wind resource within the project lands.
    Pursuant to the Test Plan developed by AirSource, the current project
phase contemplates the installation and operation of Test Wind Turbine
Generators within the northern and southern regions of the 23,000 acre area
designated for the St. Leon project. Due to the large geographic area of the
facility, testing of the wind resource will be monitored independently for the
two project regions.
    On the basis of successful Test Plan results, an additional 51 Vestas V82
Wind Turbine Generators are expected to be installed in the tested regions
during the second phase of wind turbine construction. The Wind Turbine
Generators comprising this second phase will be funded by long term debt and a
commitment of $69.2 million in subordinated debt by an affiliate of the
Algonquin Power Income Fund. In addition, the Government of Canada will be
providing over $30 million over ten years following the completion of the
second phase of the wind farm
    The testing phase officially began on April 27, 2005 with the
commissioning of the first Test Wind Turbine generator. The testing program
includes a minimum of 120 days operation for each test wind turbine.
    "While Test Plan results to date are preliminary, AirSource is pleased to
confirm that electrical energy production from the Test Wind Turbine
Generators in the varying geographic areas appears to be generally consistent
with wind studies completed prior to commencement of construction", stated
Dave Kerr, a Director of AirSource Power Fund GP, the general partner of
AirSource, and Executive Director of Algonquin Power Income Fund. "Algonquin
Power Income Fund is pleased to have taken a lead role in assisting in the
development of AirSource's first renewable energy project".
    "AirSource Power Fund is playing a significant role in the investment and
development of wind energy in Canada", said Reg Alcock, President of the
Treasury Board on behalf of R. John Efford, Minister of Natural Resources
Canada. "The test phase of the St. Leon Wind Energy facility in Manitoba
brings Canada one step closer to increasing the country's supply of clean,
renewable wind energy. Promoting the development of renewable energy
technologies is a vital step in our plan to address climate change."
    Upon construction completion, all electricity generated by the facility
will be sold to Manitoba Hydro pursuant to a 25-year power purchase agreement.
Energy produced by the Wind Turbine Generators involved in the Test Plan will
also be sold to Manitoba Hydro.
    AirSource and the St. Leon Wind Energy project team would like to
acknowledge the support of the investors, landowners and community of St. Leon
during the project and their overall contribution to strengthening renewable
power resources in Canada.

    About AirSource
    AirSource Power Fund I LP is a limited partnership established to invest
in wind energy. AirSource is currently overseeing the construction and
operation of the first wind farm in the province of Manitoba, which at 99MW
will be one of the largest wind turbine farms in Canada to date. For further
information, images of St. Leon Wind Energy construction and to sign up for
project updates, please visit http://www.airsourcepowerfund.com.

    About Algonquin Power Income Fund
    Algonquin Power is an open-ended investment trust that owns or has
interests in a diverse portfolio of power generating and infrastructure assets
across North America, including 47 hydroelectric facilities, five natural
gas-fired cogeneration facilities, 18 alternative fuels facilities and 14
water reclamation and distribution facilities. Algonquin Power was established
in 1997 to provide its unitholders with sustainable, highly stable and growing
cash flows through a diversified portfolio of energy and infrastructure
assets. The Funds units are traded on the Toronto Stock Exchange. More
information about Algonquin Power can be found at http://www.algonquinpower.com.

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