Phoenix Technology Income Fund Confirms Cash Distribution for September 15, 2009

CALGARY, ALBERTA--(Marketwire - Aug. 14, 2009) - Phoenix Technology Income Fund ("Phoenix") (TSX:PHX.UN) confirms that the monthly cash distribution for the month of August in the amount of $0.085 per trust unit will be paid on September 15, 2009 to unitholders of record on August 31, 2009.

About Phoenix Technology Income Fund

Phoenix Technology Income Fund provides horizontal and directional drilling services to oil and natural gas exploration and development companies in Canada and the United States. Phoenix's trust units are listed on the Toronto Stock Exchange under the symbol "PHX.UN".