Press Release Details

For Immediate Release                                                                           Toronto Stock Exchange: BPF.UN

Boston Pizza Royalties Income Fund Reports 3rd Quarter Results

VANCOUVER, BC, NOVEMBER 15, 2002 - Boston Pizza Royalties Income Fund (the "Fund") (TSX: BPF.UN) reported today its financial results for the period July 17, 2002 through September 30, 2002. A copy of the interim financial statements, with management discussion and analysis, is available at www.sedar.com.

As well, the Fund announced today that it will be launching its website, www.bpincomefund.ca on or about November 30, 2002. Representatives of the Fund indicated that the website will provide Fund Unitholders with answers to frequently asked questions, links to the Fund’s public documents, and other investor information.

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 trademarks 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.

Supplemental financial statements for Boston Pizza International Inc. ("BPI") are currently not available, as the company’s fiscal year end is August 31^st. Annual financial statements for BPI will be available not later than January 18, 2003.

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. BPI currently has 162 restaurants in Canada.

FOR FURTHER INFORMATION PLEASE CONTACT:
Michael Cordoba
Director, Boston Pizza GP Inc.