STOCK SYMBOL: GLH.UN/TSX GATINEAU, July 20 /CNW Telbec/ - (GLH.UN) - Great Lakes Hydro Income Fund today declared a cash distribution of 10.125 cents per unit for the month of July 2005, payable by August 31, 2005 to unitholders of record on July 29, 2005. The ex-distribution date is July 27, 2005. The schedule below sets out Great Lakes Hydro Income Fund's cash distribution history for the last six months: << ------------------------------------------------------------------------- RECORD DATE PAYMENT DATE DISTRIBUTION PER UNIT ------------------------------------------------------------------------- July 29, 2005 August 31, 2005 10.125 cents June 30, 2005 July 29, 2005 10.125 cents May 31, 2005 June 30, 2005 10.125 cents April 30, 2005 May 31, 2005 10.125 cents March 31, 2005 April 30, 2005 10.125 cents February 28, 2005 March 31, 2005 10.125 cents ------------------------------------------------------------------------- >> About Great Lakes Hydro Income Fund Great Lakes Hydro Income Fund is a premier Canadian income fund and one of the largest power income fund in North America with 986 megawatts of power generating capacity and an average annual production of 3,711 gigawatt hours. Great Lakes Hydro Income Fund produces electricity exclusively from environmentally friendly hydroelectric resources. The Fund owns, operates and manages 24 high quality hydroelectric generating stations located on seven river systems in four distinct geographic regions across North America: Quebec, Ontario, British Columbia and New England. Brascan Power, which comprises all the power operations of Brascan Corporation, owns 50.1% of the Fund's outstanding units. Great Lakes Hydro Income Fund units are listed for trading on the Toronto Stock Exchange under the symbol GLH.UN. Forward-Looking Statements The Fund's news release contains "forward- looking statements" within the meaning of Section 27A of the Securities Exchange Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The words "believe," "expect," "anticipate," "intend," and other expressions which are predictions of or indicative of future events and trends and which do not relate to historical matters identify forward-looking statements. Reliance should not be placed on forward- looking statements because they involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the business to differ materially from anticipated future results, performance or achievements expressed or implied by such forward- looking statements. Factors that could cause actual results to differ materially from those set forth in the forward-looking statements include general economic conditions, weather conditions, interest rates, foreign exchange rates, availability of equity and debt financing and other risks. The Fund undertakes no obligation to publicly update or revise any forward- looking statement, whether as a result of new information, future events or otherwise. %SEDAR: 00013106EF