TORONTO, ONTARIO -- (MARKET WIRE) -- 07/28/08 -- Income STREAMS III Corporation ("STQ STREAMS") today announced its semi-annual financial results for the six months ending May 31, 2008.

The net asset value per unit (one Capital Yield share and one Equity Dividend share) was $33.38 as at May 31, 2008. The Managed Portfolio per unit was $13.26 as at May 31, 2008.

STQ STREAMS is a mutual fund corporation that invests in a diversified portfolio consisting principally of common shares issued by corporations whose shares are included in the S&P 500 and the S&P/TSX 60 Index.

Selected Financial Information from the Statement of Financial Operations:
For the six months ending May 31, 2008

                                                               ($ Millions)

Income                                                               0.667

Expenses                                                            (0.960)
                                                                     -----

Net investment income                                               (0.293)

Realized option premiums and gain on sale of investments             0.977

Change in unrealized depreciation on
 investments/forward agreements                                     (2.745)
                                                                     -----

Decrease in net assets from operations before distributions         (2.061)

Comparative financial information is available in documents filed on www.sedar.com.