CHEMTRADE LOGISTICS INCOME FUND ANNOUNCES JULY DISTRIBUTION

Supplemental distribution declared for quarter ended June 30, 2004

TORONTO, July 21, 2004 - Chemtrade Logistics Income Fund (TSX: CHE.UN) today announced that it has declared a cash distribution of $0.11 per unit for the month of July 2004 payable on August 31, 2004 to unitholders of record at the close of business on July 30, 2004.

Chemtrade Logistics also announced that it has declared a supplemental distribution of $0.12 per unit for the quarter ended June 30, 2004, payable on July 30, 2004 to unitholders of record at the close of business on July 28, 2004.

Distributions for the second quarter of 2004, including those declared monthly and the supplemental distribution, total $0.45 per unit.

Holders of units who are non-residents of Canada will be required to pay all withholding taxes payable in respect of any distributions of income by the Fund, whether such distributions are in the form of cash or additional units.

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