WOODSTOCK, Ont., (Aug. 4, 2005) — Trucking giant Contrans Income Fund is getting out of the bus business with the sale of all of its interests in Northstar Passenger Services and Walsh Transportation.

The company has completed the sale to Stock Transportation Ltd. for about $54 million and an assumption by the purchaser of approximately $2 million in liabilities. As a result, Contrans has sold all of the assets associated with its busing operations.

The net proceeds from the deal will enable Contrans to make further acquisitions in the freight transportation business as appropriate opportunities arise. The completion of this transaction is not expected to affect the regular monthly distributions of Contrans or to have a material impact on the distributable cash generated by Contrans, the company says.

During the 12 months ended June 30, 2005, the busing operations of Contrans generated revenues of $28.2 million and contributed distributable cash of $3.4 million.

“The disposition of the busing business of Contrans will be a positive development for Contrans in that it will allow Contrans to focus exclusively on its core freight transportation business and will augment the capital available to pursue acquisition opportunities,” Contrans CEO Stan Dunford said.