Blue Ribbon Income Fund Files Final Short Form Prospectus

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


Blue Ribbon Income Fund (TSX:RBN.UN) (the "Fund") is pleased to announce it has
filed a final short form prospectus with respect to a treasury offering of units
of the Fund, with a maximum offering size of $40 million (3,500,000 units). The
unit offering price is $11.43 which was determined so as to be non-dilutive to
the most recently calculated net asset value per unit of the Fund prior to the
filing of the prospectus. Closing of the offering is expected to occur on
December 19, 2012.


The Fund invests in a portfolio consisting primarily of dividend-paying Canadian
high income equities. The investment objectives of the Fund are to provide
unitholders with monthly cash distributions and the opportunity to participate
in gains in the value of the Fund's investment portfolio.


The syndicate of agents for the offering is being co-led by CIBC, BMO Capital
Markets and RBC Capital Markets, and includes National Bank Financial Inc., TD
Securities Inc., GMP Securities L.P., Scotiabank, Desjardins Securities Inc.,
Canaccord Genuity Corp., Macquarie Private Wealth Inc., Raymond James Ltd.,
Dundee Securities Ltd., Industrial Alliance Securities Inc. and Mackie Research
Capital Corporation.


For further information, please contact your investment advisor, call Brompton's
investor relations line at 416-642-6000, toll-free at 1-866-642-6001, email
[e-mail] or visit our website at www.blueribbonincomefund.com.


Commissions, trailing commissions, management fees and expenses all may be
associated with investment funds. Please read the Fund's publicly filed
documents which are available from SEDAR at www.sedar.com. Investment funds are
not guaranteed, their values change frequently and past performance may not be
repeated.


Certain statements contained in this news release constitute forward-looking
information within the meaning of Canadian securities laws. Forward-looking
information may relate to matters disclosed in this news release and to other
matters identified in public filings relating to the Fund, to the future outlook
of the Fund and anticipated events or results and may include statements
regarding the future financial performance of the Fund. In some cases,
forward-looking information can be identified by terms such as "may", "will",
"should", "expect", "plan", "anticipate", "believe", "intend", "estimate",
"predict", "potential", "continue" or other similar expressions concerning
matters that are not historical facts. Actual results may vary from such
forward-looking information.


The securities offered have not been registered under the U.S. Securities Act of
1933, as amended, and may not be offered or sold in the United States absent
registration or any applicable exemption from the registration requirements.
This news 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.


This offering is only made by prospectus. A final prospectus containing
important detailed information about the securities being offered has been
filed. Copies of the prospectus may be obtained from any of the above-mentioned
agents. Investors should read the prospectus before making an investment
decision.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Brompton's investor relations line
416-642-6000 or toll-free at 1-866-642-6001
[e-mail]
www.blueribbonincomefund.com