New President of Waterous Power Systems 

Neil Manning, President and CEO of Wajax Income Fund, is pleased to announce the appointment of Tim W. Zawislak as President of Waterous Power Systems.

Tim has extensive operational and executive level experience in the oil and gas, power generation and structured finance industries.  Most recently, as Vice President and General Manager of Siemens LLC, he was stationed in Abu Dhabi where he was responsible for the strategy and development of the regional groups oil and gas business in the Middle East.  He began his employment with Siemens Canada in 2002 and prior to that held senior management positions with Enerflex Systems Limited, The Williams Companies and Dynegy Canada.  Tim obtained a Bachelor of Commerce Degree from the University of Saskatchewan.

Waterous Power Systems is headquartered in Edmonton and distributes and provides parts, sales and service for MTU, MTU Onsite Energy and Detroit Diesel engines, Allison Transmission, Electro-Motive Diesel engines and GE Energy co-generation systems and complementary products.

Wajax Income Fund is a leading Canadian distributor and service support provider operating three distinct core businesses in the Mobile Equipment, Industrial Components and Power Systems segments.  It operates through a network of over 110 branches across Canada.  Its customer base spans natural resources, construction, transportation, manufacturing, industrial processing and utilities.  The Fund's units are listed on the TSX under the symbol "WJX.UN".