Bloom Select Income Fund Announces Normal Course Issuer Bid For Units

TORONTO, ONTARIO--(Marketwire - May 10, 2012) - Bloom Select Income Fund (the "Fund") (TSX:BLB.UN) announced today acceptance by the Toronto Stock Exchange (the "TSX") of the Fund's Notice of Intention to make a Normal Course Issuer Bid (the "NCIB").

Pursuant to the NCIB, the Fund proposes to purchase through the facilities of the TSX, from time to time, if it is considered advisable, up to 537,281 Units of the Fund, representing approximately 10% of the public float of 5,372,813 Units as of the date hereof. The Fund will not purchase in any given 30-day period, in the aggregate, more than 109,496 Units, being 2% of the issued and outstanding Units of 5,474,813 as of the date hereof. Purchases of Units under the NCIB may commence on May 14, 2012. Bloom Investment Counsel, Inc., the manager of the Fund, believes that such purchases are in the best interests of the Fund and are a desirable use of the Fund's resources. All purchases will be made through the facilities of the TSX in accordance with its rules and policies. All Units purchased by the Fund pursuant to the NCIB will be cancelled. The NCIB will expire on May 13, 2013.