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Cargojet Income Fund Announces Implementation of Contracted Price Increase

Wednesday, July 26, 2005

MISSISSAUGA, ON, July 26 /CNW/ - Cargojet Income Fund (the "Fund") (TSX: CJT.UN) confirmed today the implementation of a previously negotiated contract price increase with a major customer. These new revenues, effective August 1, 2005, will contribute approximately $1.4mm in additional cash flow per year.

“This price increase results from the development of a new domestic route with a major customer. Cargojet continues to cultivate strategic opportunities and partnerships with existing customers while consistently providing our customers with the most reliable and cost-effective premium overnight air cargo services coast to coast in Canada ”, said Ajay K. Virmani President and C.E.O. of Cargojet.

Cargojet is Canada's leading provider of time sensitive overnight air cargo service. Cargojet operates its network from coast to coast transporting over 500,000 pounds (226.8 tonnes) of volumetric time sensitive air cargo to thirteen major cities in Canada each business night.

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For further information:

P. Dhillon
Vice President Marketing, Public & Government Relations
(905) 501-7373
pdhillon@cargojet.com.