The Consumers’ Waterheater Income Fund Announces Its Annual and Special Meeting of Unitholders and 2008 First Quarter Financial Results Conference Call

TORONTO, ONTARIO–(Marketwire – April 16, 2008) – The Consumers' Waterheater Income Fund (the "Fund") (TSX:CWI.UN) today announced that it will hold its Annual and Special Meeting on Thursday, May 1, 2008 at the Ivey, ING Leadership Centre, Exchange Tower, 130 King Street West at 9:30 a.m. ET in Toronto, Ontario. Following the formal part of the meeting, John Macdonald, President and Chief Executive Officer and Steve Bower, Chief Financial Officer, will provide an overview of the Fund's operations and financial performance. The presentation will be available via webcast at A conference call and webcast to discuss the Fund's first quarter financial results for 2008 will be held on Thursday, May 1, 2008 at 8:15 a.m. ET. Results will be issued via press release after markets close on Wednesday, April 30, 2008. The dial-in numbers to listen to the teleconference are 416.644.3414 or 1.800.732.6179. The conference call will be hosted by Messrs. Macdonald and Bower. Following management's presentation, there will be a question and answer session for analysts and institutional investors. To access the simultaneous live audio webcast, please visit Participants will require Windows Media Player(TM), which can be downloaded prior to accessing the call. The web cast will subsequently be archived on the site. A taped rebroadcast will be available to listeners following the call until May 8, 2008 at midnight. To access the rebroadcast, please dial 416.640.1917 or 1.877.289.8525 and enter the passcode 21268202#. About The Consumers' Waterheater Income Fund The Consumers' Waterheater Income Fund owns a portfolio of 1.4 million installed water heate rs and other assets, leased primarily to residential customers in Ontario. Direct Energy Essential Home Services provides service support to the portfolio and receives 35% of aggregate rental revenues; thereby significantly reducing the Fund's operating risk. The asset base has been generating stable and growing cash flows since its inception in the late 1950s.

For further information: The Consumers’ Waterheater Income Fund
Steve Bower
Chief Financial Officer
(905) 943-6292 or 1-877-877-0142
Email: [email protected]