For Immediate Release Toronto Stock Exchange: BPF.UN
BOSTON PIZZA ROYALTIES INCOME FUND ANNOUNCES ITS NINTH INCREASE
IN MONTHLY DISTRIBUTION SINCE INCEPTION
VANCOUVER, BC, May 8, 2006 - Boston Pizza Royalties Income Fund (the “Fund”) (TSX: BPF.UN) is pleased to announce that it is once again increasing monthly cash distributions. The monthly distributions will increase 1.9% from $0.103 per unit to $0.105 per unit beginning with the April 2006 distributions. The Fund periodically reviews distribution levels based on its policy of smoothing the distribution flow to Unitholders. The monthly distribution of $0.105 per unit for the period from April 1, 2006 to April 30, 2006 will be paid to unitholders of record at the close of business on May 21, 2006 and will be payable on May 31, 2006.
Same Store Sales Growth for the period January 1, 2006 through March 31, 2006 was 12.7%, compared to the same period last year. Royalties paid to the Fund will be adjusted annually to include the franchise revenues of the new Boston Pizza restaurants opened prior to December 31 of each year. Since January 1, 2006, 13 new full-service restaurants have opened, bringing the total number of restaurants open in Canada as of May 8, 2006 to 239, of which 226 restaurants are in the Royalty Pool.
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 226 Boston Pizza restaurants in Canada as at December 31, 2005.
The trustees of the Fund have approved the contents of this news release.
FOR FURTHER INFORMATION PLEASE CONTACT:
Boston Pizza Royalties Income Fund
Jordan Holm - Vice President of Investor Relations
Tel: 604-303-6083
investorrelations(at)bostonpizza.com
www.bpincomefund.com
® 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. 2006