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Boston Pizza Royalties Income Fund Announces January 2005 Distribution

February 08, 2005

For Immediate Release                                                                           Toronto Stock Exchange: BPF.UN

BOSTON PIZZA ROYALTIES INCOME FUND ANNOUNCES JANUARY, 2005 DISTRIBUTION

VANCOUVER, BC, FEBRUARY 8, 2005 - Boston Pizza Royalties Income Fund (the “Fund”) (TSX: BPF.UN) announced today a cash distribution of $0.0967 per unit for the period from January 1, 2005 to January 31, 2005.  The distribution will be paid to unitholders of record at the close of business on February 21, 2005 and will be payable on February 28, 2005.

Royalties 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.  Since November 1, 2004, two new restaurants have opened, bringing the total number of restaurants open in Canada as of February 8, 2005 to 197.  

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 195 Boston Pizza restaurants in Canada as at November 1, 2004. 

The trustees of the Fund have approved the contents of this news release.

FOR FURTHER INFORMATION PLEASE CONTACT:
Robert Groom
Director, Investor Relations
Tel: 604-270-1108

FOR FURTHER INFORMATION PLEASE CONTACT:

Boston Pizza Royalties Income Fund
Jordan Holm - Vice President of Investor Relations
Tel: 604-303-6083

www.bpincomefund.com

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