TORONTO – Jan. 20, 2005 – Golf Town Income Fund (the "Fund") (TSX: GLF.UN) has announced a cash distribution of $0.0875 per unit for the period from January 1, 2005 to January 31, 2005.

The distribution will be paid to unit holders of record at the close of business on January 31, 2005 and will be payable on or before February 15, 2005.

For those unit holders holding units outside a tax deferred plan, the Fund estimates that the distributions will be treated approximately as 75% taxable income and the balance as a return of capital. The proportion of these figures may change when the actual results for the fiscal year are calculated. Golf Town is the largest retailer of golf merchandise in Canada.

Golf Town was founded in 1998 and opened its first store in 1999 in the greater Toronto area. Over the past five years, Golf Town has expanded across Canada and now operates 21 retail stores.

Contact:
Stephen Bebis,
President and CEO,
Golf Town,
Tel: (905) 479-0343