ACS Media Income Fund paid monthly distributions to unitholders of record on the last business day of each month. These distributions were comprised of interest (“other income”) and dividends, with the breakdown set forth in the attached forms (Tax information for 2003, 2004, 2005 and 2006).

The distributions of the Fund are subject to certain withholding taxes by Canadian and US tax authorities, in particular the interest portion of distributions, which is considered U.S. sourced income. Unitholders are required to comply with the withholding requirements, and are encouraged to review the following information (Taxation of Distributions)

Taxation of Distributions

Tax Information for 2006 Distributions

Tax Information for 2005 Distributions
Tax Information for 2004 Distributions
Tax Information for 2003 Distributions