The Consumers’ Waterheater Income Fund Remind s Unitholders of the Upcoming Special Meeting

TORONTO, ONTARIO–(Marketwire – Nov. 12, 2010) – The Consumers' Waterheater Income Fund ("Fund") (TSX:CWI.UN) wishes to remind unitholders of record on October 12, 2010 of the upcoming special meeting of unitholders to be held on Thursday, November 25, 2010 at Ivey – ING Leadership Centre, the Exchange Tower, 130 King Street West, Toronto, Ontario at 9:00 a.m. (Eastern Time). As described in the information circular mailed on or about November 2, 2010 to those unitholders, the business to be conducted at the special meeting includes the approval of the conversion (the "Conversion") of the Fund from an income trust to a dividend-paying corporation (EnerCare Inc.) on a tax free "roll-over" basis for Canadian federal income tax purposes, effective January 1, 2011. As also described in the information circular, unitholders will also be asked to approve the adoption of an option plan and shareholder rights plan by EnerCare Inc., subject to approval of the Conversion.

In addition, the Fund has clarified a provision of the option plan proposed to be adopted by EnerCare Inc. as described in the information circular. The option plan will now include a term that requires shareholder approval for any amendment to the option plan that extends the term of an option beyond its original expiry date, except an extension of an option that would otherwise expire during a blackout period, to 10 business days following the end of the blackout period. Previously, the requirement for shareholder approval for such an amendment applied only in respect of options held by insiders, whereas it will now apply in respect of all options.

The Fund encourages all of its unitholders to return proxies by the proxy deadline of 5:00 p.m. (Eastern Time) on November 23, 2010. The Fund's board of trustees unanimously recommends that unitholders vote in favour of ea ch of the matters to be considered at the special meeting, including the adoption by EnerCare Inc. of the option plan. In addition, the matters to be considered at the special meeting have been analysed by both Glass Lewis & Co. and Institutional Shareholder Services Inc. ("ISS"), leading proxy research firms used by many institutional investors. Glass Lewis has recommended that its clients vote in favour of each of the matters to be considered at the special meeting and ISS has indicated that it will be recommending that its clients vote in favour of each of the matters to be considered at the special meeting.

If you have any questions about the upcoming special meeting, or require assistance completing your proxy form, please contact the Fund's proxy solicitation agent, Georgeson, at 1-888-605-8414 or [email protected].

About The Consumers' Waterheater Income Fund

The Fund owns a portfolio of approximately 1.3 million installed water heaters and other assets, rented primarily to residential customers in Ontario. The Fund also owns Stratacon Inc. and EnerCare Connections Inc., leading sub-metering companies, with metering contracts for condominium and apartment suites in Ontario, Alberta and elsewhere in Canada.

Additional information regarding the Fund, including its current Annual Information Form, is available on SEDAR at www.sedar.com. Additional information on the Fund's sub-metering businesses is available at www.stratacon.ca and at www.enercareconnections.com.