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Ajay Virmani Speaks to the Schulich School of Business

May 30, 2007

Cargojet Income Fund (the "Fund") (TSX: CJT.UN) On May 30, students in the Schulich School of Business 2007 MBA program will be engaged with one of Canada’s leading business figures, Ajay Virmani, President and Chief Executive Officer of Cargojet, Canada’s Cargo Airline.

“A world class MBA education exposes students not just to cutting-edge concepts and theories but also to entrepreneurs that apply this knowledge to generate competitive advantage in their industries. I am delighted that Mr. Ajay Virmani, CEO - Cargojet - has accepted our invitation to share his experiences with the MBA students at the Schulich School of Business, as this gives us an opportunity to observe up close the power of clear thinking and focused action. Mr. Virmani's engagement with the social community through contributions of time and resources to various causes also resonates with our School's philosophy as frequently articulated by Dean Dezso Horvath that being a good social actor is intrinsic to running a successful business,” says Aswin W. Johshi, Ph. D., Director, MBA Program Schulich School of Business York University.

“I am honoured to be invited to participate as a guest speaker before an exceptional group of students. Going back into a university setting is very refreshing. Having an opportunity to share my life experiences and philosophies with these students will be personally rewarding. I sincerely hope that I will be able to contribute to the lives and learning experiences of these students,” said Ajay Virmani.

Cargojet Holdings Ltd. 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.

For further information, please contact:

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


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