For Immediate Release Toronto Stock Exchange: BPF.UN
Boston Pizza Royalties Income Fund Announces November, 2002 Distribution
VANCOUVER, BC, DECEMBER 11, 2002 - Boston Pizza Royalties Income Fund (the "Fund") (TSX: BPF.UN) announced today a cash distribution of $0.0833 per unit for period from November 1, 2002 to November 30, 2002. The distribution will be paid to unitholders of record at the close of business on December 21, 2002 and will be payable on or before December 31, 2002
The Fund is a limited purpose, open-ended trust established under the laws of British Columbia to acquire indirectly certain trade marks and trade names used by Boston Pizza International Inc. ("BPI") in its Boston Pizza restaurants in Canada. The trade marks are licensed to BPI for 99 years for which BPI pays the Fund 4% of franchise revenues of its 154 Boston Pizza restaurants in Canada as at April 30, 2002.
BPI continues to operate the Boston Pizza franchise system and to develop new Boston Pizza restaurants in Canada and has opened eight new restaurants since April 30, 2002. The royalty paid to the Fund will be adjusted annually to include the franchise revenues of the new Boston Pizza restaurants opened prior to November 1 of each year.
FOR FURTHER INFORMATION PLEASE CONTACT:
Robert Groom
Director, Investor Relations
® Boston Pizza Royalties Limited Partnership. All Boston Pizza registered Canadian trade-marks and unregistered Canadian trade-marks containing the words "Boston", "BP", and/or "Pizza" are trade-marks owned by the Boston Pizza Royalties Limited Partnership and licensed by the Boston Pizza Royalties Limited Partnership to Boston Pizza International Inc.
© Boston Pizza International Inc. 2002