September 27, 2011

Boyd Group Income Fund Announces Closing of $13.975 Million and $7.1 Million Secondary Bought Deal Financing

Not for distribution to U.S. newswire services or for dissemination in the United States.

Winnipeg, Manitoba — September 27, 2011 — Boyd Group Income Fund (TSX: BYD.UN) (“the Fund”) today announced that it has closed the bought deal financing with a syndicate of underwriters led by Cormark Securities Inc. and CIBC World Markets Inc., acting as co-leads and joint bookrunners, and including National Bank Financial, and Octagon Capital Corp. (collectively, the “Underwriters”), as announced on September 6, 2011.

The Underwriters purchased 1,963,231 Units (the “Offering”) comprised of: (i) 1,300,000 trust units (“Units”) from treasury, (ii) 463,231 Units being sold from entities under the control or direction of Terry Smith, Executive Chairman of Boyd Group Income Fund, and (iii) 200,000 Units being sold by Edward Cheskis, at a price of $10.75 per Unit. The Units were offered to the public by way of short form prospectus.

The Underwriters also received the option, exercisable in whole or in part at any time up to 30 days after the closing of the Offering, to purchase from treasury up to an additional 195,000 Units for market stabilization purposes and to cover over-allotments, if any.

The net proceeds of the Offering to the Fund will be used to reduce debt levels and position the Fund for future growth and development.

About The Boyd Group Inc.

The Boyd Group Inc. is the largest operator of collision repair centres in North America. The Company operates locations in the four Western Canadian provinces under the trade name Boyd Autobody & Glass, as well as in 13 U.S. states under the trade names Gerber Collision & Glass, True2Form, and Cars Collision. The Company also operates Gerber National Glass Services, an auto glass repair and replacement referral business with approximately 3,000 affiliated service providers throughout the United States. For more information on The Boyd Group Inc. or Boyd Group Income Fund, please visit our website at www.boydgroup.com.

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. The Boyd Group Income Fund units trade on the Toronto Stock Exchange (TSX) under the symbol BYD.UN.

Contact Information

Boyd Group Income Fund
Brock Bulbuck
President & CEO
(204) 895-1244
brock.bulbuck@boydgroup.com

Boyd Group Income Fund
Dan Dott
VP & CFO
(204) 895-1244
dan.dott@boydgroup.com

Salvador Diaz
Investor Relations
(416) 815-0700 / 1-800-385-5451 (ext. 242)
sdiaz@equicomgroup.com

Caution concerning forward-looking statements

Statements made in this press release, other than those concerning historical financial information, may be forward-looking and therefore subject to various risks and uncertainties. Some forward-looking statements may be identified by words like “may”, “will”, “anticipate”, “estimate”, “expect”, “intend”, or “continue” or the negative thereof or similar variations. Readers are cautioned not to place undue reliance on such statements, as actual results may differ materially from those expressed or implied in such statements. Factors that could cause results to vary include, but are not limited to: the economic downturn; loss of key customers; fluctuations in cash distributions; dependence on the Fund’s operating subsidiary to pay its interest obligations; loss of services of key senior management personnel; damage to the Company’s brand; variation in the number of insurance claims; margin pressure; management of credit and refinancing risks; responding to changes in the market environment; technology risks; the management of key supplier relationships; capital expenditures; competition from established competitors and new entrants in the businesses in which the Company operates; employee relations; the ability to complete acquisitions of collision repair facilities and other businesses and to integrate these acquisitions successfully; the ability to identify start-up locations and reach anticipated profitability levels; potential discovery of undisclosed liabilities associated with acquisitions; energy costs; weather conditions; operational and infrastructure risks including possible equipment failure and performance of information technology systems; fluctuations in operating results and seasonality; ability to expand into the United States; insurance coverage of sufficient scope to satisfy any liability claims; environmental risk; interest rate fluctuations and general economic conditions; quality of corporate governance; pending and proposed legislative or regulatory developments including the impact of changes in laws, regulations and the enforcement thereof; quality of internal control systems; fluctuations in foreign currencies; fluctuations in the cost of benefit plans; impact of government owned insurance; and the possible impacts from public health emergencies, international conflicts and other developments including those relating to terrorism; and the Fund’s success in anticipating and managing the foregoing risks.

We caution that the foregoing list of factors is not exhaustive and that when reviewing our forward-looking statements, investors and others should refer to the “Risk Factors” section of the Fund’s Annual Information Form, the “Risks and Uncertainties” and other sections of our Management’s Discussion and Analysis of Operating Results and Financial Position and our other periodic filings with Canadian securities regulatory authorities. All forward-looking statements presented herein should be considered in conjunction with such filings.

Corporate Headquarters
The Boyd Group Inc.

3570 Portage Avenue
Winnipeg, Manitoba, R3K 0Z8
Email: info@boydgroup.com
Tel: 204-895-1244
Fax: 204-895-1283