Superior Plus Income Fund - July 2005 Cash Distribution - $0.20 per Trust Unit

TSX: SPF.UN

CALGARY, July 7 /CNW/ - Superior Plus Income Fund (the "Fund") today
announced its cash distribution for the month of July 2005 of $0.20 (20 cents)
per trust unit payable on August 15, 2005. The record date is July 31, 2005
and the ex-distribution date will be July 27, 2005. The Fund's current
annualized cash distribution rate is $2.40 per trust unit.

For income tax purposes, the income from the July 2005 cash distribution
of $0.20 per trust unit is considered to be:
                               -  a dividend of $0.047 per trust unit
                               -  other income of $0.153 per trust unit

A summary of cash distributions since inception and tax information is
posted under the Investor Information section of Superior's website at:
www.superiorplus.com.

The Fund holds 100% of Superior Plus Inc., which has four operating
divisions: Superior Propane is Canada's largest distributor of propane,
related products and services; ERCO Worldwide is a leading supplier of
chemicals and technology to the pulp and paper and water treatment industries;
Winroc is the seventh largest distributor of walls and ceilings construction
products in North America; and Superior Energy Management provides fixed price
natural gas supply services in Ontario and Quebec.
The Fund's trust units trade on the Toronto Stock Exchange (the "TSX")
under the trading symbol SPF.UN. There are 78.2 million trust units
outstanding. The Fund has $10.3 million principal amount of Series 1, and
$64.1 million of Series 2, 8%; and $175.0 million of 5.75% Convertible
Unsecured Subordinated Debentures outstanding, that trade on the TSX under the
trading symbols SPF.DB, SPF.DB.A, and SPF.DB.B, respectively.