News Releases

Advantage Announces Appointment of Paul G. Haggis to the Board of Directors

Nov 7, 2008


    CALGARY, Nov. 7 /CNW/ - Advantage Energy Income Fund ("Advantage" or the
"Fund") (AVN.UN - TSX, AAV - NYSE) is pleased to announce the appointment of
Mr. Paul Haggis to the Board of Directors of Advantage's wholly owned
subsidiary, Advantage Oil & Gas Ltd. Mr. Haggis has extensive financial
markets and public board experience and currently serves on the Board of
Directors of Canadian Tire Bank and as a director and Chair of the Investment
Committee of the Insurance Corporation of British Columbia. Mr. Haggis' work
experience includes serving as President and Chief Executive Officer of
Ontario Municipal Employees Retirement System (OMERS) from September 2003 to
March 2007, Interim Chief Executive Officer of the Public Sector Pension
Investment Board (PSPIB) during 2003 and Executive Vice-President, Development
and Chief Credit Officer of Manulife Financial in 2002. Mr. Haggis was also
President and Chief Executive Officer of Alberta Treasury Branches from 1996
to 2001. During the course of his career, Mr. Haggis has served as a director
of a number of public entities and charitable organizations including, OMERS
Capital Partners, Centre for Addiction and Mental Health, Royal Ontario
Museum, Pargesa Holding SA (Geneva), Oxford Properties Group, Borealis
Infrastructure Management Inc. and the Canadian Chamber of Commerce.
    Advantage is confident that Mr. Haggis will be an asset to the Fund and
looks forward to his input at both the Board level and on the Independent
Audit Committee.

    Advisory

    The information in this press release contains certain forward-looking
statements. These statements relate to future events or our future
performance. All statements other than statements of historical fact may be
forward-looking statements. Forward-looking statements are often, but not
always, identified by the use of words such as "seek", "anticipate", "plan",
"continue", "estimate", "expect", "may", "will", "project", "predict",
"potential", "targeting", "intend", "could", "might", "should", "believe",
"would" and similar expressions. These statements involve substantial known
and unknown risks and uncertainties, certain of which are beyond Advantage's
control, including: the impact of general economic conditions; industry
conditions; changes in laws and regulations including the adoption of new
environmental laws and regulations and changes in how they are interpreted and
enforced; fluctuations in commodity prices and foreign exchange and interest
rates; stock market volatility and market valuations; volatility in market
prices for oil and natural gas; liabilities inherent in oil and natural gas
operations; uncertainties associated with estimating oil and natural gas
reserves; competition for, among other things, capital, acquisitions, of
reserves, undeveloped lands and skilled personnel; incorrect assessments of
the value of acquisitions; changes in income tax laws or changes in tax laws
and incentive programs relating to the oil and gas industry and income trusts;
geological, technical, drilling and processing problems and other difficulties
in producing petroleum reserves; and obtaining required approvals of
regulatory authorities. Advantage's actual results, performance or achievement
could differ materially from those expressed in, or implied by, such
forward-looking statements and, accordingly, no assurances can be given that
any of the events anticipated by the forward-looking statements will transpire
or occur or, if any of them do, what benefits that Advantage will derive from
them. Except as required by law, Advantage undertakes no obligation to
publicly update or revise any forward-looking statements.

    %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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