TerraVest Income Fund George Armoyan has been appointed as a trustee of TerraVest Income Fund and director of Terravest Industries, Inc. following the resignations of Bob Phillips, Murray Wallace and Tim Rorabeck earlier May 17, 2012. This appointment has been approved by the Trustees of the Fund pursuant to the Declaration of Trust of the Fund which permits the Trustees to fill vacancies among the Trustees to hold office until the close of the next annual general meeting of unit holders, currently scheduled to be held on June 26, 2012. Mr. Armoyan is President of Geosam Capital Inc. and Interim President and Chief Executive Officer of Clarke Inc.