Article: Citadel S-1 Income Fund Announces Distribution and Top Ten Holdings

CALGARY, ALBERTA--(CCNMatthews - May 23, 2007) - Citadel S-1 Income Trust Fund (TSX:SDL.UN) reports the distribution to unitholders of record at the close of business on May 31, 2007 and payable on June 15, 2007 is $0.104 Cdn per unit.

Throughout the month of April 2007, Citadel S-1 repurchased 15,800 units under its mandatory repurchase program when the Fund traded at a discount greater than 5%.

As at May 17, 2007, Citadel S-1's net asset value was $16.38 Cdn per unit. ...

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