Davis + Henderson receives regulatory approvals related to offer to acquire Resolve

TORONTO, Jul 21, 2009 (Canada NewsWire via COMTEX) — Davis + Henderson Income Fund (TSX: DHF.UN) (“Davis + Henderson”) and Resolve Business Outsourcing Income Fund (TSX: RBO.UN) (“Resolve”) today announced that Resolve and 2206997 Ontario Inc. (the “Offeror”), a company established by Davis + Henderson, have received all necessary regulatory approvals forming part of the conditions to the Offeror’s previously announced offer (the “Offer”) to acquire all of the outstanding units of Resolve on the basis of 0.285 Davis + Henderson units for each unit of Resolve.

The Offer is open for acceptance until 12:00 p.m. (Toronto time) on July 27, 2009, unless withdrawn, modified or extended.


Davis + Henderson uses its market-leading capabilities to meet the evolving needs of the financial services industry in Canada and abroad. Founded in 1875, the company today provides innovative programs to customers who offer chequing and credit card accounts, and a comprehensive array of technology-based solutions to support our customers’ credit lifecycle management services. Davis + Henderson Income Fund is listed on the Toronto Stock Exchange under the symbol DHF.UN. Further information can be found in the disclosure documents filed by Davis + Henderson Income Fund with the securities regulatory authorities, available at www.sedar.com.


Resolve works with businesses as an outsourced resource taking on critical processes and managing them better, faster and more cost-effectively. Resolve has over 35 years’ experience managing processes for clients in the financial services, retail, government, consumer goods and communications industries. Headquartered in Toronto, Canada, Resolve employs more than 4,700 people in 28 locations and is listed on the Toronto Stock Exchange as Resolve Business Outsourcing Income Fund, symbol RBO.UN. For more information, visit www.resolve.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state in the United States in which such offer, solicitation or sale would be unlawful. The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

%SEDAR: 00017092EF

SOURCE: Davis + Henderson Income Fund


Bob Cronin, Chief Executive Officer, Davis + Henderson, Limited Partnership, (416)
696-7700, extension 5301, bob.cronin@dhltd.com; Catherine Martin, Chief Financial
Officer, Davis + Henderson, Limited Partnership, (416) 696-7700, extension 5265,
catherine.martin@dhltd.com; Bruce Simmonds, Chief Executive Officer, Resolve Business
Outsourcing Income Fund, (905) 306-2003, bruce.simmonds@resolve.com; Gerry McDonald,
Chief Financial Officer, Resolve Business Outsourcing Income Fund, (905) 306-2196,