Citadel Income Fund Renews Normal Course Issuer Bid

Citadel Income Fund (TSX:CTF.UN) (the "Fund"), today announced that the Fund
will renew its normal course issuer bid effective February 6, 2013 (the "Bid").


Under the Bid, the Fund may purchase up to 2,248,541 units of the Fund ("Units")
representing 10% of the 22,485,417 public float Units as at February 1, 2013.
The Fund may not, in any 30 day period, purchase more than 449,708 Units,
representing 2% of the Units issued and outstanding. There are 22,485,417 issued
and outstanding Units of the Fund as at February 1, 2013. All Units purchased
pursuant to the Bid will be cancelled. Unit purchases will be made only through
facilities of the TSX and will be in accordance with TSX rules and policies.


The Bid will commence on February 6, 2013 and terminate on the earlier of the
date on which the Fund completes its purchases pursuant to the Bid or February
5, 2014. The number of Units purchased under the normal course issuer bid from
February 1, 2012 to January 31, 2013 was 3,255,300 with a weighted average price
paid per unit of $4.00. The Fund believes that it may be accretive to
unitholders to engage in repurchases of its Units, from time to time, when they
are trading at prices which the Fund believes reflect a discount from the
underlying value of its Units.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Please contact your financial advisor or call
Artemis Investment Management
Investor Relations
[phone]
www.artemisfunds.ca