Canoe EIT Income 4.80 Cumulative Redeemable Pref shs Series 1 T.EIT.P.A

Investor relations response...

[felix10]

I emailed EIT's investor relations people to ask how they could justify the recent decision to issue more shares to exchange for other trust units, in light of the large current discount to NAV. Here's their response: Dear Mr. , Thank you for your e-mail and continued support as a valued investor. Your feedback is very important to us; earlier this year we elected to not do a Right’s Offering based on the feedback we received from investors like yourself. EnerVest Management Ltd. reimburses all costs for the exchange offer. It takes approximately seven years for the management company to recover the costs and it does not earn a profit until this time. The List of Issuers for the Exchange Offer includes both trusts that we have accepted in the past and corporations (i.e. common stocks) which will be accepted to further diversify the portfolio. As per the July 2007 Special Meeting, unitholders approved an amendment to the Investment Mandate. The amendment includes broadening the investment objective for EnerVest to clarify and allow for a greater percentage of investments in debt and equities that may include high-yield debt or dividend paying common stocks. In the past, many of the issuers accepted in the Exchange Offer have been accretive; this means that the weighted average at which they are brought into the portfolio is less than the cost of purchasing the units in the market. EnerVest also has the right to reject any positions that have been tendered if it is deemed that the position would be dilutive to the fund. In addition, existing unitholders will benefit from a potentially lower MER as the fund grows. It is important to note that EnerVest has been buying back units through the Normal Course Issuer Bid on an on-going basis. Please contact our Investor Relations team at 1-800-459-3384 for additional questions or comments. Sincerely, Linda Koroluk Vice President, Investor Relations EnerVest Management Ltd. Ph: [phone] Fx: [phone] Toll Free: 1-800-459-3384