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Cargojet Income Fund Announces Timing of Third Quarter 2008 Results & Conference Call

October 21, 2008

Cargojet Income Fund (the "Fund") (TSX: CJT.UN) Cargojet in conjunction with the release of its Third Quarter 2008 Financial Results, will host a conference call at 2:00p.m. Eastern Standard Time (11:00 a.m. Pacific Standard) on Wednesday, November 12, 2008.

Ajay K. Virmani, President and Chief Executive Officer and Dan Mills, Chief Financial Officer of Cargojet will review third quarter financial results and corporate developments.  The financial results will be released by newswire on the morning of Wednesday, November 12, 2008 on SEDAR as well as on the Fund’s website at www.cargojet.com.

To participate in this conference call, please dial the following number(s) approximately five minutes prior to the commencement of the call:

Local Number:           416 695 9761
Toll Free Number:   1 888 789 0089

Please state you are participating in the Cargojet Income Fund Conference Call.

Should you be unable to participate, an instant replay will be available until
Wednesday, November 26, 2008 by dialing:

Local Number:             416 695 5800
Toll Free Number:     1 800 408 3053
Access Code:                   3273680#

We look forward to having you participate in our call.

Pauline Dhillon, VP Marketing, Public and Government Relations
Cargojet Income Fund,
350 Britannia Road East, Units 5 & 6,
Mississauga, Ontario, L4Z 1X9
(905) 501-7373 ext 135 or at
pdhillon@cargojet.com.