News Release

Macquarie Power Income Fund Declares January 2005 Cash Distribution

TORONTO, Jan. 19 /CNW/ - Macquarie Power Income Fund (the "Fund") today declared a cash distribution for the month of January 2005 of C$0.07917 per trust unit.

The distribution will be paid on February 28, 2005 to Unitholders of record at the close of trading on January 31, 2005.

Macquarie Power Income Fund is an unincorporated limited purpose trust which owns a 156 MW gas-fired cogeneration power station located in Cardinal, Ontario. 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:

Investor enquiries
Germain Lecours
Chief Financial Officer
Macquarie Power Management Ltd.
(416) 594-5198;

Media enquiries
Alex Doughty
Corporate Communications
Macquarie group
(212) 548-2740

CO: Macquarie Power Income Fund
CNW 16:22e 19-JAN-05