General Donlee Income Fund (the "Fund") seeks to generate an attractive and sustainable stream of monthly cash distributions for its unitholders (the "Unitholders").

The Fund intends to pay a monthly cash distribution to the Unitholders on or about the last business day of the month, for the prior month, with a record date typically three business days earlier. Monthly distributions are based on 1/12 of the targeted annual distribution amount.

The table below outlines the details of the cash distributions made since inception:

Cash distributions for 2010:

	distribution period	declaration date	record date	payment date	distribution per unit
	Jul 1-31	Aug 16	Aug 27	Aug 31	$0.09
	Jun 1-30	Jul 15	Jul 27	Jul 30	$0.09
	May 1-31	Jun 15	Jun 25	Jun 30	$0.09
	Apr 1-30	May 14	May 26	May 31	$0.09
	Mar 1-31	Apr 15	Apr 27	Apr 30	$0.09
	Feb 1-28	Mar 15	Mar 26	Mar 31	$0.09
	Jan 1-31	Feb 12	Feb 23	Feb 26	$0.09
	Dec 1-31 ('09)	Jan 15	Jan 26	Jan 29	$0.09

	Total for 2010:	$0.72

Cash distributions for 2009:

	distribution period	declaration date	record date	payment date	distribution per unit
	Nov 1-30	Dec 15	Dec 28	Dec 31	$0.09
	Oct 1-31	Nov 9	Nov 25	Nov 30	$0.09
	Sep 1-30	Oct 15	Oct 27	Oct 30	$0.09
	Aug 1-31	Sep 15	Sep 25	Sep 30	$0.09
	Jul 1-31	Aug 14	Aug 26	Aug 31	$0.09
	Jun 1-30	Jul 15	Jul 28	Jul 31	$0.09
	May 1-31	Jun 15	Jun 25	Jun 30	$0.09
	Apr 1-30	May 15	May 26	May 29	$0.09
	Mar 1-31	Apr 15	Apr 27	Apr 30	$0.09
	Feb 1-28	Mar 9	Mar 27	Mar 31	$0.09
	Jan 1-31	Feb 13	Feb 24	Feb 27	$0.09
	Dec 1-31 ('08)	Jan 15	Jan 27	Jan 30	$0.09

	Total for 2009:	$1.08

Cash distributions for 2009:

	Total for 2009:	$1.08

Cash distributions for 2008:

	Total for 2008:	$1.16

Cash distributions for 2007:

	Total for 2007:	$1.03

Cash distributions for 2006:

	Total for 2006:	$0.735

Cash distributions for 2005:

	Total for 2005:	$0.2972

Cash distributions for 2004:

	Total for 2004:	$0.42492

Cash distributions for 2003:

	Total for 2003:	$1.11681

Cash distributions for 2002:

	Total for 2002: (May - November)	$0.84176

 
The following table supplies information regarding the tax status of the cash distributions made by the Fund for 2002 to 2008.

Tax Allocations

Year	Total Paid\Unit	Other Income\Unit	Percentage	Return of Capital\Unit	Percentage
2009	1.08000	1.08000	100.00	-	-
2008	1.16000	1.16000	100.00	-	-
2007	1.03000	0.89686	87.07	0.13314	12.93
2006	0.73500	0.73500	100.00	-	-
2005	0.29720	0.19798	66.62	0.09922	33.38
2004	0.42492	0.22724	53.48	0.19768	46.52
2003	1.11681	0.97716	87.50	0.13965	12.50
2002	0.84176	0.79694	94.68	0.04482	5.32

Trust Units held within a Registered Retirement Savings Plan (RRSP), a Registered Retirement Income Fund (RRIF) or a Deferred Profit Sharing Plan (DPSP):

If the investment in the trust units of the Fund is held within an RRSP, RRIP or DPSP, income earned in respect of the trust units is not subject to tax in the year. Instead, the amount of capital and income in the plan is taxed only on withdrawal from the plan.

Trust Units held outside an RRSP, RRIF or DPSP:

Unitholders with an investment outside of an RRSP, RRIF or DPSP will need to report the appropriate income in their Income Tax Return. All Unitholders should receive a T3 Supplementary tax slip for the year 2004 prior to March 31, 2005

Adjusted Cost Base for Capital Gains Purposes

Unitholders are required to reduce the Adjusted Cost Base (ACB) of their units by any distributions received in the form of a return of capital. The ACB is used in calculating capital gains or losses on the disposition of units held outside a tax sheltered plan.

It is recommended that investors should contact their tax advisor.