News Releases

Advantage Announces Monthly Distribution and Closing of Debenture Offer

Oct 19, 2007


    (TSX: AVN.UN, NYSE: AAV)

    CALGARY, Oct. 19 /CNW/ - Advantage Energy Income Fund ("Advantage" or the
"Fund") announces that the cash distribution for the month of October will be
$0.15 per Unit. The distribution represents an annualized yield of 14.4% based
on the October 18, 2007 closing price of $12.50 per Unit.
    The distribution will be payable on November 15, 2007 to Unitholders of
record at the close of business on October 31, 2007. The ex-distribution date
is October 29, 2007. The cash distribution is based on approximately
137.3 million Units outstanding.
    The CDN$0.15 per Unit is equivalent to approximately US$0.15 per Unit if
converted using a Canadian/US dollar exchange rate of 0.97. The US dollar
equivalent distribution will be based upon the actual Canadian/US exchange
rate applied on the payment date and will be net of any Canadian withholding
taxes that may apply.
    On September 7, 2007, Advantage announced that it made an offer (the
"Offer") to purchase all of the outstanding 8.75% convertible unsecured
subordinated debentures trading under the symbol "AVN.DB.F" and all of the
8.0% convertible unsecured subordinated debentures trading under the symbol
"AVN.DB.G" (collectively, the "Debentures") as a result of the business
combination involving Sound Energy Trust on September 5, 2007. This Offer
closed at 5:00 pm (Calgary Time) on Wednesday, October 17, 2007. Pursuant to
the Offer, $35,958,000 principal amount of Debentures plus accrued and unpaid
interest were tendered in exchange for the issuance of 3,131,998 Trust Units
and $19,214,000 principal amount of Debentures plus accrued and unpaid
interest were tendered for cash. The Trust Units issued and cash paid
represent 101% of the tendered Debentures principal amount plus accrued and
unpaid interest for July 1 to October 18, 2007. As less than 90% of the
principal amount of Debentures was tendered to the Offer, the residual
Debentures will remain outstanding according to their respective terms.

    %SEDAR: 00016522E          %CIK: 0001259995



For further information:

For further information: Investor Relations, Toll free: 1-866-393-0393,
ADVANTAGE ENERGY INCOME FUND, 3100, 150 - 6th Avenue SW, Calgary, Alberta, T2P
3Y7, Phone: (403) 261-8810, Fax: (403) 262-0723, Web Site:
www.advantageincome.com, E-mail: advantage@advantageincome.com


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