November 26, 2007

Boyd Group Announces Intention To Settle Vendor Exchange Notes

Winnipeg, Manitoba — November 26, 2007 — The Boyd Group Income Fund (TSX: BYD.UN) (the “Fund”) today announced that it intends to exercise its right to pay the remaining principal amount owing of US$7,031,200 under its 2004 vendor exchange notes due February 1, 2008 (the ” Exchange Notes”) by way of the issuance of Fund trust units (“Units”) on February 1, 2008. The Exchange Notes were issued by the Fund upon the acquisition of The Gerber Group Inc. (“Gerber”) on February 2, 2004 and bear interest at a fixed rate of 6.4% per annum.

Pursuant to the terms of the Exchange Notes, the holders have the right to, at prescribed times, exchange notes for Units at a price of US$6.62 per Unit and the Fund has the right to settle the Exchange Notes at maturity through the issuance of Fund Units at an issue price equal to the lesser of US$6.62 per Unit or a floor price which is the greater of the weighted average trading price of the Units on the Toronto Stock Exchange for the 15 consecutive trading days immediately preceding the fifth day prior to which the principal is to be paid (the “weighted average trading price”), or the quotient of dividing the original principal sum owing under the Exchange Notes of US$8,132,000 by 1,450,000, being approximately US$5.61 per Unit. In 2005, Exchange Note holders exercised their right to convert approximately US$1,100,800 of Exchange Notes for 166,284 Units.

Assuming the weighted average trading price does not exceed $5.61 per Unit, on February 1, 2008, the Fund will issue approximately 1,254,000 Units at an issue price of US$5.61 per Unit to settle its Exchange Note obligations. This transaction will reduce the Fund’s liabilities by approximately US$7,031,200, eliminate approximately US$450,000 of annualized interest costs and increase the number of Fund Units outstanding to approximately 11.7 million. The Fund’s subsidiary, Boyd Group Holdings Inc., also has approximately 860,000 Class A common shares outstanding that are convertible into Fund Units on a one-for-one basis.

About The Boyd Group Inc.

The Boyd Group Inc. is the largest operator of collision repair centres in Canada and among the largest in North America. The company operates locations in the four western Canadian provinces principally under the trade names Boyd Autobody & Glass and Service Collision Repair, as well as in six U.S. states principally under the trade name Gerber Collision & Glass. The company also operates Gerber National Glass Services, an auto glass repair and replacement referral business with affiliated service providers throughout the United States. For more information on The Boyd Group Inc. or Boyd Group Income Fund, please visit our Web site at

About The Boyd Group Income Fund

The Boyd Group Income Fund is an unincorporated, open-ended mutual fund trust created for the purposes of acquiring and holding certain investments, including a majority interest in The Boyd Group Inc. and its subsidiaries.

For further information, please contact:

Terry Smith
Tel: (204) 895-1244 (ext. 222)

Bruce Wigle
Investor Relations
Tel: (416) 815-0700 or toll free 1-800-385-5451 (ext.228)

This press release contains forward-looking statements, other than historical facts, which reflect the view of the Fund’s management with respect to future events. Such forward-looking statements reflect the current views of the Fund’s management and are made on the basis of information currently available. Although management believes that its expectations are reasonable, it can give no assurance that such expectations will prove to be correct. The forward-looking statements contained herein are subject to these factors and other risks, uncertainties and assumptions relating to the operations, results of operations and financial position of the Fund. The Fund assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those contemplated by the forward-looking statements.