July 1, 2010

Chesswood Rights Offering Over-Subscribed by 56%

TORONTO, July 1, 2010 – Chesswood Income Fund (the "Fund") (TSX:CHW.UN) announced today that its rights offering was more than 56% over-subscribed, so that it raised the maximum gross proceeds possible of $5.28 million. As a result, 1,320,799 Fund units are being issued at an exercise price of $4.00 per unit.

"We appreciate the tremendous support of our unitholders," said Barry Shafran, President and CEO. "Subscribing for more than the maximum amount possible reflects their confidence in Chesswood. It’s also noteworthy that there was broad support for the offering from across our unitholder base."

Net proceeds from the offering will be used to support the growth of the Fund’s Pawnee Leasing Corporation ("Pawnee") subsidiary, as well as for general corporate purposes.

As a result of issuances of Fund units under the rights offering and the exercise of previously granted options and restricted units, the Fund has 9,250,854 Fund units outstanding in addition to exchangeable shares (issued as part of the consideration to acquire Pawnee in 2006) entitling the holders to acquire 1,478,537 Fund units.

The Fund's transfer agent is in the process of distributing Fund units to participants in the rights offering, either directly or through their brokers.

About Chesswood Income Fund
Chesswood Income Fund is a financial services trust with operating businesses in both Canada and the U.S.

For more information visit www.ChesswoodFund.com.

May 10, 2010

Gary H. Souverein, President & COO
Pawnee Leasing Corporation 800-864-4266, ext. 222

Pawnee Leasing Corporation introduces B+ credit leasing product .

Fort Collins, CO, May 10, 2010 – Pawnee Leasing Corporation has introduced a competitive B+ Credit leasing product to all of its approved broker sources effective May 10, 2010. The new B+ product complements Pawnee Leasing’s leadership position serving the third party channel in the Start-up and B Credit markets.

"As is our operating style, we have been methodically entering this space for several years with individual third party sources to affirm our underwriting and servicing processes. As we expected, our tenured risk management and collections model is ideally suited to accommodate and service these credit profiles." said Gary Souverein, Pawnee’s President and COO.

Souverein adds, "In speaking with so many of our sources, the industry disruption has left this market severely underserved as traditional banks, commercial finance and "A" leasing companies have migrated upstream in credit. We believe there’s significant opportunity to originate high quality credit at attractive risk-adjusted margins. Our brokers have voiced a high demand for this product and we are excited to add further value to these relationships."

Pawnee Leasing Corporation, providing lease financing in the lower 48 states since 1982, purchases small-ticket "Start-Up" and "B" Credit transactions exclusively from a national network of brokers/lessors. For more information please contact Gary H. Souverein, at 800-864-4266. www.pawneeleasing.com

Pawnee Leasing Corporation is a Chesswood Income Fund company traded on the Toronto Stock Exchange – TSX - CHW.UN - www.chesswoodfund.com

February 20, 2010

Gary H. Souverein, President & COO
Pawnee Leasing Corporation 800-864-4266, ext. 222

Pawnee Leasing Corporation makes new asset and industry opportunities available to broker/lessor community.

Pawnee Leasing Corporation (Pawnee) has made available a mini-ticket program for assets and industry classes that are considered less desirable by many funding sources. "This program affords our broker/lessor network new market penetration opportunities in asset and industry classes that generally receive less attention from traditional financing sources. These less competitive market spaces allow both Pawnee and our broker/lessor to command attractive, risk adjusted margins." said Gary Souverein, Pawnee’s President and COO.

The program was introduced on January 1, 2010 and encompasses a specific array of asset and industry classes including well defined pricing and lease structure within the program for transactions up to $15,000. Broker/lessors should direct inquiries for program information to their Marketing representative at Pawnee.

Pawnee Leasing Corporation, providing lease financing in the lower 48 states since 1982, purchases small-ticket "Start-Up" and "B" Credit transactions exclusively from a national network of brokers/lessors. For more information please contact Gary H. Souverein, at 800-864-4266.

January 7, 2010

Gary H. Souverein, President & COO
Pawnee Leasing Corporation 800-864-4266, ext. 222

Pawnee Leasing Corporation announces the hiring of Wayne Woolley as Vice President and Credit Manager.

Pawnee Leasing Corporation (est. 1982), a small-ticket funding source specializing in start-up business and less traditional credits up to $30,000, announced the hiring of Wayne Woolley as Vice President and Credit Manager of Pawnee Leasing Corporation.

Woolley previously was with Chrysler Financial 10 years in various senior credit management capacities. Woolley replaces retiring Credit Manager, Jerry Reeves, who has served in his capacity since 1999. Pawnee's President added, "While we will miss Jerry's influence on our credit operations, we are excited about the new credit leadership and hands-on credit experience that Woolley brings to the organization."

Woolley states, "I'm looking forward to enhancing the tenured and successful credit formula that clearly exists at Pawnee as is evidenced by the company's continued profitability through this unprecedented credit cycle."

Pawnee Leasing Corporation, providing lease financing in the lower 48 states since 1982, purchases small-ticket "Start-Up" and "B" Credit lease transactions exclusively from a national network of brokers/lessors.

January 1, 2010 - An Update From Our President

Gary H. Souverein, President & COO

Another year has come to a close and what a year 2009 has been! For even the most weathered industry veterans, the past year has been like no other. Simply put, it has been the most challenging year any of us have ever experienced. Nevertheless, the confluence of challenges has created new opportunities for those who are weathering the continuing storm. While business equipment acquisition may feel idle, many, many lessees and vendors have been orphaned by their bank and leasing relationships. There may never be a more opportune time to start prospecting for new relationships! Now more than ever, brokers are using our services as a door opener in their prospecting. "Mr. Vendor, is your primary lease company handling your start-up and "B" credit customers?" Chances are very high today that the answer is "No" and this is your entry point to a future relationship. You might have to refine your sales skills as selling Start-Up and "B" credit terms requires a different approach than that commodity "A" deal. Opportunity!

We see tremendous opportunity in 2010 with our broker partners. In the New Year, we will be expanding our footprint in our niche markets but also expanding into complementary segments in a measured fashion. We've never been more confident in our future and we're proud to say that we continue to dedicate 100% of our resources to the broker community.

So what's new you ask?

1) The "You want it, you got it" program.
A host of restricted equipment types and industries will now be considered! This will be a special promotion through March 31, 2010 to help you earn new commissions!

2) No increase in buy rates.
Enclosed are 2010 buy rate schedules which mirror the 2009 edition.

3) Modest adjustments to our Broker Guidelines including additional equipment, industry & state restrictions.

Paul Phillips (East) and Brian Schonfeld (West) remain your primary daily contacts and we encourage discussing your current business focus with them on a regular basis as they will be able to offer broad insight on how we can maximize our opportunities together. Please use them to set up conference calls especially with your sales team to discuss how we can be a more active part of their sales efforts. Take advantage of their role as your interface to improve and expand our business relationship.

Thank you again for the business relationship that we enjoy with you, our business partner. We appreciate and do recognize the relationship between broker and funder and the integral part you play in our success. Let's make 2010 a success for all of us!

January 1, 2010 - You Asked For It... You Got It!

Effective January - December 2010

Due to the overwhelmingly positive response by our broker community, we have decided to continue this program through the remainder of the year. Keep your sales force motivated in 2010 with the following previously restricted industries and collateral! As always, feel free to contact your regional marketing manager with any questions.

Industries ($1,000 - $15,000)

Equipment ($1,000 - $15,000)

Credit Criteria: *Minimum One Year Time In Business Required *3 Payment Security Deposit Required (Use 2 Payment Factor) *48 Month Maximum Term *Please Use Standard "B" and Start-Up Rate Schedules

If you would like to download this information in a printable PDF format, please click on the image to the right. Adobe Reader is required to view PDF files. You can download the free Adobe Reader by Clicking Here.

November 3, 2009

Gary H. Souverein, President & COO
Pawnee Leasing Corporation  800-864-4266, ext. 222

Pawnee Leasing Corporation announces attendance & exhibition at National Association of Equipment Leasing Brokers Western Regional Meeting

Fort Collins, CO, November 3, 2009 - Pawnee Leasing Corporation (Pawnee) announced that it will be attending as an exhibiting funding source at the National Association of Equipment Leasing Brokers Western Regional Meeting in Costa Mesa, CA on November 6-7, 2009.

"We have exhibited and attended at this annual event for many years and always find it to be exceptionally valuable to both be present and to network with many of our clients in this geographic area. Given all of the funding source changes and exits from our market space it is also a nice opportunity to reinforce Pawnee Leasing Corporation's constant support of the Association and our customer network. We are still very much in the game and growing our market footprint in the start-up and "B" credit markets." said Gary Souverein, Pawnee's President and COO.

Pawnee Leasing Corporation will be exhibiting its services as well as participating as a panelist in one of the workshops, "Ways to Become a Top Broker with Your Funding Sources". Both Gary Souverein and Western Regional Marketing Manager, Brian Schonfeld will be attending the event.

Pawnee Leasing Corporation, providing lease financing in the lower 48 states since 1982, purchases small-ticket "Start-Up" and "B" Credit transactions exclusively from a national network of brokers/lessors. For more information please contact Gary H. Souverein, at 800-864-4266.

October 13, 2009

Gary H. Souverein, President & COO
Pawnee Leasing Corporation  800-864-4266, ext. 222

Pawnee Leasing Corporation announces transition to DOLLAR$ lease operating system provided by SFFA, Inc.

Fort Collins, CO, October 13, 2009 - Pawnee Leasing Corporation (Pawnee) announced that it recently replaced its operating system to the tenured DOLLAR$ lease operating system provided by SFFA, Inc. (SFFA), of Lakewood, CO.

"We are both confident and excited to align ourselves with SFFA, perhaps one of the most experienced and specialized lease operating system providers in our industry", said Gary Souverein, Pawnee's President and COO. "The DOLLAR$ lease operating system provides us with flexibilities and customizations that support our unique underwriting niche to Start-Up and "B" credit lease applicants. It also enhances our disciplined processes and will support a more web-efficient interface with our broker/lessor customers in the coming months as we continue our installation".

"Pawnee is a unique lease operation and our distinct advantage of not taking a "one size fits all" approach to their business allows us to be additive to their operations and customers. With over 25 years of service to the leasing industry we also especially enjoy partnering with Pawnee's experienced employee team." stated Dave Fern, SFFA's President.

Pawnee Leasing Corporation, providing lease financing in the lower 48 states since 1982, purchases small-ticket "Start-Up" and "B" Credit transactions exclusively from a national network of brokers/lessors. For more information please contact Gary H. Souverein, at 800-864-4266.

May 11, 2006

Pawnee Leasing Corporation announces completion of Acquisition and Initial Public Offering by Chesswood Income Fund

Fort Collins, CO, May 11, 2006 – Pawnee Leasing Corporation (Pawnee) will operate as a U.S. subsidiary of Chesswood Income Fund (Chesswood) following the successful closing of an Initial Public Offering of Chesswood, and concurrent conversion of cars4U Ltd into Chesswood, effective May 10, 2006.

"Chesswood provides Pawnee with access to the public markets, a significant opportunity that will allow us to continue growth in our core business and seek accretive opportunities that leverage our disciplined operations", said Gary Souverein, Pawnee's President and COO. "This will be a transparent event for our broker/lessor customers as our current management and employee team continue to enhance our leadership in the small-ticket start-up and "B" credit markets."

"Pawnee's excellent management team, years of consistent performance and commitment to future expansion were key elements in the successful Initial Public Offering" stated Barry Shafran, Chesswood's President and CEO.

Chesswood issued 5,778,193 trust units at C$10.00 per unit, for gross proceeds of C$57,781,930. The offering was underwritten by a syndicate of underwriters led by TD Securities Inc. and Canaccord Capital Corporation and including Blackmont Capital Inc., Wellington West Capital Markets Inc., Desjardins Securities Inc. and Genuity Capital Markets G.P. Units of Chesswood will trade on the Toronto Stock Exchange under symbol CHW.UN.

For more information please contact Gary Souverein, at 800-864-4266.