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Cargojet Income Fund Announces Timing of Annual General Meeting

June 3, 2008

Cargojet Income Fund (the "Fund") (TSX: CJT.UN) announced today the Annual and Special meeting of Unitholders of Cargojet Income Fund will be held at the TSX Gallery, the Exchange Tower, 130 King Street West, Toronto, Ontario on Wednesday, June 18, 2008 at 3:00 p.m. EST.

Cargojet is Canada's leading provider of time sensitive overnight air cargo services. Cargojet operates its network across North America, transporting over 840,000 pounds of time sensitive air cargo each business night, utilizing a fleet of thirty-five all cargo aircraft.

For additional information, please contact:

Pauline Dhillon, VP Marketing, Public and Government Relations
(905) 501-7373 ext 135 or at
pdhillon@cargojet.com.

Notice on Forward Looking Statements:

Certain statements contained herein constitute "forward-looking statements".  Forward-looking statements look into the future and provide an opinion as to the effect of certain events and trends on the business.  Forward-looking statements may include words such as "plans," "intends," "anticipates," "should," "estimates," "expects," "believes," "indicates," "targeting," "suggests" and similar expressions.  These forward-looking statements are based on current expectations and entail various risks and uncertainties.  Actual results may materially differ from expectations, if known and unknown risks or uncertainties affect our business, or if our estimates or assumptions prove inaccurate.  The issuer assumes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or any other reason.