Australian REIT Income Fund Files Preliminary Short Form Prospectus for Warrant Offering

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES OF AMERICA.


Harvest Portfolios Group Inc., the manager of Australian REIT Income Fund
(TSX:HRR.UN) (the "Fund"), is pleased to announce that the Fund has filed a
preliminary short form prospectus for an offering (the "Offering") of Class A
warrants ("Class A Warrants") and Class F warrants ("Class F Warrants") of the
Fund to holders of Class A units ("Class A Units") and Class F units ("Class F
Units"), respectively. The Class A Warrants and Class F Warrants are
collectively referred to as the "Warrants". Each holder of a Class A Unit will
receive one Class A Warrant for each Class A Unit held and each holder of a
Class F Unit will receive one Class F Warrant for each Class F Unit held on a
record date that will be determined prior to the filing of the final short form
prospectus. 


Two whole Warrants of a class will entitle the holder to purchase a Unit of such
class upon payment of the subscription price. The subscription price for the
Class A Units will be determined as the lesser of: (i) the sum of the most
recently calculated net asset value per Class A Unit prior to the date of the
preliminary short form prospectus plus the estimated per Class A Unit fees and
expenses of the Offering, and (ii) the sum of the most recently calculated net
asset value per Class A Unit prior to the date of filing the final short form
prospectus plus the estimated per Class A Unit fees and expenses of the
Offering. The subscription price for the Class F Units will be determined as the
lesser of: (i) the sum of the most recently calculated net asset value per Class
F Unit prior to the date of the preliminary short form prospectus plus the
estimated per Class F Unit fees and expenses of the Offering, and (ii) the sum
of the most recently calculated net asset value per Class F Unit prior to the
date of filing the final short form prospectus plus the estimated per Class F
Unit fees and expenses of the Offering. 


The Fund has applied to list the Class A Warrants and the Class A Units issuable
upon the exercise thereof on the Toronto Stock Exchange ("TSX"). Listing will be
subject to the Fund fulfilling all of the listing requirements of the TSX. The
Class F Warrants and the Class F Units are not and will not listed on any
exchange, including the TSX.


The Warrants are not qualified for distribution in the United States of America.
Copies of the preliminary short form prospectus have been filed on SEDAR at
www.sedar.com under the Fund's profile.


This press release does not constitute an offer to sell or the solicitation of
an offer to buy securities nor will there be any sale of such securities in any
state in which such offer, solicitation or sale would be unlawful.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Harvest Portfolios Group Inc.
1-866-998-8298
[e-mail]