(TSX: AVN.UN, NYSE: AAV)

    CALGARY, Feb. 12 /CNW/ - As a result of continuing weakness in crude oil
and natural gas prices, the Board of Directors of Advantage Energy Income Fund
("Advantage" or the "Fund") has approved a reduction in the cash distribution
for the month of February 2009 to $0.04 per Unit from the current $0.08 per
Unit. The reduced cash distribution will improve Advantage's balance sheet and
preserve cash flow for our ongoing capital program.
    Advantage has also increased commodity hedging in 2009 to 56% of our net
natural gas production at an average floor price of Cdn $8.09 per mcf and 46%
of our net crude oil production at an average floor price of Cdn $69.38 per
barrel. For 2010, 49% of our net natural gas production is now hedged at Cdn
$7.46 per mcf and 26% of our net crude oil production is hedged at an average
floor price of Cdn $67.83 per barrel. Complete commodity hedging details are
available on our website.
    The distribution will be payable on March 16, 2009 to Unitholders of
record at the close of business on February 27, 2009. The ex-distribution date
is February 25, 2009. Advantage has approximately 143.8 million Units
outstanding.
    The Cdn $0.04 per Unit is equivalent to approximately US $0.03 per Unit
if converted using a Canadian/US dollar exchange rate of 1.25. 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.

    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.

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