Tree Island Announces Filing of Preliminary Prospectus for Rights Offering to Unitholders

VANCOUVER, BRITISH COLUMBIA–(Marketwire – Dec. 7, 2009) –

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Tree
Island Wire Income Fund (TSX:TIL.UN)
(”Tree Island” or the “Fund”) announced that it will be
filing today a preliminary short form prospectus (the “Preliminary
Prospectus”) with securities regulatory authorities in each of the
provinces of Canada relating to a rights offering (the “Offering”).