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Monday December 20

Boyd Group Income Fund Announces December 2004 Cash Distribution

Boyd Group Income Fund has announced a cash distribution for the month of December 2004 of $0.095 per trust unit. The distribution will be payable on January 27, 2005 to unitholders of record at the close of business on December 31, 2004.

Boyd Group Income Fund's policy is to pay monthly distributions to unitholders of record on or around the last business day of the month. Holders of units who are non-residents of Canada will be subject to withholding taxes in respect of any distributions made by Boyd Group Income Fund.

The Fund is an unincorporated, open-ended mutual fund trust created for the purposes of acquiring and holding certain investments, including an interest in The Boyd Group Inc. and its subsidiaries. The Boyd Group Inc. is the largest operator of collision repair facilities in Canada and is among the largest in North America.

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