Copernican World Banks Income and Growth Trust Files Short Form Prospectus

BURLINGTON, ONTARIO–(EMWNews – July 17, 2008) –

THIS PRESS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES.

Copernican Capital Corp., the Manager of Copernican World Banks Income and Growth Trust (the “Trust”) (TSX:CBK.UN)(TSX:CBK.WT)(TSX:CBK.WT.A) is pleased to announce that the Trust has filed and has received a receipt from the securities regulators of all the Canadian provinces and territories for the short form prospectus dated July 14, 2008 for the issue of June 2009 Warrants and June 2010 Warrants. One June 2009 Warrant entitles the holder thereof to purchase one trust unit (a “Unit”) at a price of $5.34 per Unit on February 2, 2009 at 4:00 p.m. or at a price of $5.35 per Unit at 4:00 p.m. on the last business day of each month starting on February 27, 2009 until June 30, 2009. One June 2010 Warrant entitles the holder thereof to purchase one Unit at a price of $5.40 per Unit on February 1, 2010 at 4:00 p.m. or at a price of $5.45 per Unit at 4:00 p.m. on the last business day of each month starting on February 26, 2010 until June 30, 2010.

Copernican Capital Corp. is the manager of the Trust (the “Manager”). Certain statements included in this news release constitute forward-looking statements, including, but not limited to, those identified by the expressions “expect”, “intend”, “will” and similar expressions to the extent they relate to the Fund. The forward-looking statements are not historical facts but reflect the Manager’s current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Although the Manager believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein.

The Manager undertakes no obligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other such factors which affect this information, except as required by law.

This offering is only made by prospectus. The short form prospectus dated July 14, 2008 contains important detailed information about the securities being offered. Copies of the short form prospectus may be obtained from the issuer or are available electronically at www.sedar.com. Investors should read the prospectus before making an investment decision.

All capitalized terms noted herein but not defined are as per the short form prospectus dated July 14, 2008.