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Cargojet's President & CEO Ajay Virmani Receives Honourary Doctorate Degree

MISSISSAUGA, ON, June 23 - Cargojet Income Fund (the "Fund") (TSX: CJT.UN) announced today that its President and Chief Executive Officer, Ajay Virmani, received
an Honourary Doctorate of Laws from Assumption University, in conjunction with the University of Windsor.

“This honourary degree is bestowed upon individuals who have excelled in their respective industries. The selection process focuses on individuals whose entrepreneurial spirit, drive and success personify their leadership and quest for excellence. Ajay Virmani represents one of Canada's dream like success stories in that he moved from entry level employment with a company and ended up owning it! This is the stuff of which corporate fairy tales are made. Ajay is a phenomenon all unto himself,” says Dr. Paul Cassano, Vice President Development, Assumption University.

“I was very humbled to receive such as prestigious honour and thank Assumption University for recognizing and bestowing the Honourary Doctorate of Laws upon me.
I accept this Honourary Degree on behalf of my entire team at Cargojet” said
Ajay Virmani, Cargojet’s President and CEO.

Cargojet is Canada's leading provider of time sensitive overnight air cargo services. Cargojet operates its network from coast to coast to thirteen major Canadian cities each business night, on behalf of major couriers, freight forwarders and manufacturers.

For further information:

P. Dhillon,
Vice President Marketing, Public & Government Relations,
Tel: (905) 501-7373 ext 135 or pdhillon@cargojet.com