TORONTO, June 3 /CNW/ - COMPASS Income Fund announced today its intention to make a normal course issuer bid for its units through the facilities of the Toronto Stock Exchange (the "TSX"). This normal course issuer bid is intended to commence on June 7, 2005 and will terminate on June 6, 2006. In accordance with the Declaration of Trust by which COMPASS is governed, market purchases pursuant to its normal course issuer bid may be effected by the Fund. At May 30, 2005 there were 28,501,175 units issued and outstanding. COMPASS may, during the 12 month period commencing June 7, 2005 purchase on the TSX up to 1,425,058 units, being 5% of the units outstanding. Since June 7, 2004 COMPASS has purchased 612,400 units at an average price of $12.47 per unit under its previously approved normal course issuer bid. COMPASS believes that its units represent good value for the Fund and purchases under the normal course issuer bid may serve to enhance returns to unitholders. COMPASS trades on the Toronto Stock Exchange under the symbol "CMZ.UN".