General Donlee Income Fund Announces Tax Information for 2006 Cash Distributions

Toronto, Canada, Mar 5, 2007 - General Donlee Income Fund (the
"Fund") announced today the breakdown of taxable income and return of capital
relating to cash distributions paid during the period January 1, 2006 to
December 31, 2006. Please see the table below for this split.

    <<
                                 Distribution

                          Per Unit    Percentage
                          --------    ----------
    Other income          $  0.735       100.0 %

    Return of capital        0.000         0.0
                          --------    ----------
    Total                 $  0.735       100.0 %
                          --------    ----------
    >>

    A summary of cash distributions and tax information since inception of
the Fund in 2002 is posted on the Distributions page of the Investor Relations
section of General Donlee's website at www.generaldonlee.com.

    The information contained herein is based of General Donlee's
understanding of the Income Tax Act (Canada) and the regulations thereunder
and is provided for general information only. Unitholders are advised to
consult their personal tax advisors with respect to their particular
circumstances.

    General Donlee Income Fund is a trust established to hold the securities
of General Donlee Limited, which is a leading diversified manufacturer of
precision-machined products for the military, commercial and general aerospace
industries and also is a specialist in the manufacture of precision-machined
products for the industrial products and power generation industries.

For further information:
Ralph Barnes
Director, Investor Relations,
tel: 416.743.4417
email: rbarnes@generaldonlee.com

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