Macquarie Power Income Fund Appoints New Chief Executive Officer
TORONTO, November 8 2005 – The Board of Trustees of Macquarie Power Income Fund
(TSX: MPT.UN - the “Fund”) today advised that it has appointed Mr Gregory J Smith as Chief
Executive Officer (“CEO”) of the Fund, which is managed by Macquarie Bank Limited
subsidiary Macquarie Power Management Ltd (“MPML”)1.
Mr Smith will succeed the current CEO of the Fund, Mr Bob Rollinson, effective December 5,
Mr Smith will also remain the Head of the Infrastructure and Specialized Funds division in
Canada, the position he has held since joining Macquarie North America Ltd (“Macquarie”) in
October 2003. Mr Smith is responsible for the growth of Macquarie’s infrastructure funds
business in Canada, including the launch of Macquarie Power Income Fund in 2004 and has
acted as MPML’s representative on the MPT Board of Trustees since inception.
Mr Rollinson, who is returning to Australia due to family health reasons, will remain a
Managing Director at Macquarie Bank and will continue to contribute to its global infrastructure
business. Mr Rollinson will also continue to assist the Fund as a director of MPML, providing
ongoing operational and investment experience and expertise.
“The Board of Trustees of MPT welcomes the appointment of Mr Smith as President and CEO
as a continuation of the importance of MPT as part of Macquarie’s growing infrastructure
business in Canada,” Chairman of MPT, Mr Derek Brown, said.
“This is a significant time for the Fund as it builds its portfolio of quality businesses in the
power and infrastructure sector in North America. As CEO of the Fund, Mr Smith will continue
the ongoing development of the Fund’s existing assets, including the integration of the newly
acquired Leisureworld business, as well as seek to secure additional acquisition opportunities
to profitably grow the Fund and distributions to unitholders for the long term.
1Mr Smith has also been appointed as President and CEO of MPML
“The Board would also like to take this opportunity to thank Mr Rollinson for his invaluable
contribution to the Fund since establishment and looks forward to continuing to work with him
in his new capacity,” Mr Brown said.
Mr Rollinson will work closely with Mr Smith over the coming month as they transition
Mr Smith also intends to resign as MPML’s representative on the MPT Board of Trustees, with
that position to be assumed by Ms Shemara Wikramanayake who is Head of Macquarie’s
Infrastructure and Specialized Funds division for North America.
About Macquarie Power Income Fund
Macquarie Power Income Fund is an unincorporated limited purpose trust which owns a 156
MW gas-fired cogeneration power station located in Cardinal, Ontario and a 45% indirect
interest in Ontario long-term care provider Leisureworld Inc. The Fund’s units are listed on the
Toronto Stock Exchange under the symbol MPT.UN. The Fund is managed by Macquarie
Power Management Ltd., a wholly-owned subsidiary of Macquarie Bank Limited and a
member of the Macquarie group.
More information on Macquarie Power Income Fund can be found at the Fund’s website,
For further information, please contact:
Chief Financial Officer
Macquarie Power Management Ltd.
Tel: (416) 607-5198
Tel: (212) 231-1710