CHEMTRADE LOGISTICS INCOME FUND SECURES EARLY EXTENSION OF CREDIT AGREEMENT

TORONTO, June 2, 2008 – Chemtrade Logistics Income Fund (TSX: CHE.UN) announced today that it has extended the Fund’s senior credit facilities with its principal bankers to August 2011. This is a two year extension to the current term, on substantially the same terms as the existing agreement.

Mark Davis, President and Chief Executive Officer of Chemtrade, said, “In keeping with our practice, we have extended the term of our credit agreement well ahead of its maturity date. The early renewal reflects the strength of our business and the strong relationships we have with our bankers. This has also allowed us to take advantage of the current favourable interest rate environment which results in an interest rate on our debt which is consistent with the rate we are currently paying. The early renewal also maintains our flexibility to undertake various projects to continuously improve the operating reliability and efficiency of our plants.”

This news release contains certain statements which may constitute “forward-looking” statements within the meaning of certain securities laws, including the “safe harbour” provisions of the Securities Act (Ontario). The use of any of the words “anticipate”, “continue”, estimate”, “expect”, “may”, “will”, “project”, “should”, “believe” and similar expressions are intended to identify forward-looking statements.

This news release contains forward-looking statements about the objectives, strategies, financial condition, results of operations and businesses of the Fund. These statements are “forward-looking” as they are based on current expectations about our business and the markets we operate in, and on various estimates and assumptions.

• Forward-looking statements in this news release describe our expectations as of the date of this news release.
• Our actual results could be materially different from our expectations if known or unknown risks affect our business, or if our estimates or assumptions turn out to be inaccurate. As a result, we cannot guarantee that any forward-looking statement will materialize.
• Forward-looking statements do not take into account the effect that transactions or non-recurring items announced or occurring after the statements are made may have on our business.
• We disclaim any intention or obligation to update any forward-looking statement even if new information becomes available, as a result of future events or for any other reason.
• Risks that could cause our actual results to differ materially from our current expectations are discussed in the Risks and Uncertainties section of our MD&A.
• Further information can be found in the disclosure documents filed by Chemtrade Logistics Income Fund with the securities regulatory authorities, available at www.sedar.com.

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