TORONTO, Oct. 30 /CNW/ - Triax CaRTS III Trust (the "Trust") (TSX: TXZ.UN) announced today acceptance by The Toronto Stock Exchange (the "TSX") of the Trust's Notice of Intention to commence a Normal Course Issuer Bid (the "NCIB"). Pursuant to the NCIB, the Trust proposes to purchase, from time to time, if it is considered advisable, up to 392,987 Units of the Trust, representing approximately 10% of the public float of 3,929,876 Units as of the date hereof, on the TSX commencing November 1, 2006. As of the date hereof, there are 3,929,876 Units issued and outstanding. The Board of Directors of First Asset Investment Management Inc., the manager of the Trust, believes that such purchases are in the best interests of the Trust and are a desirable use of the Trust's funds. All purchases will be made through the facilities and in accordance with the rules and policies of the TSX. All Units purchased by the Trust pursuant to the NCIB will be cancelled. The NCIB will expire on October 31, 2007. There have been no previous purchases of Units by the Trust within the past 12 months.
For further information: Rob MacNiven at (416) 362-2929 or 1-800-407-0287