Press Release Details

For Immediate Release                                                                           Toronto Stock Exchange: BPF.UN

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

BOSTON PIZZA ROYALTIES INCOME FUND AND BOSTON PIZZA INTERNATIONAL INC. ANNOUNCE BOUGHT DEAL

VANCOUVER, BC, (February 25, 2008) - Boston Pizza Royalties Income Fund (the "Fund") and Boston Pizza International Inc. ("BPI") announce that BPI has entered into an agreement with a syndicate of investment dealers led by TD Securities Inc. and RBC Capital Markets to complete a secondary offering.  Under the agreement, the syndicate has agreed to purchase 2,945,246 units of the Fund ("Units") at a purchase price of $12.40 per Unit for gross proceeds of $36.5 million.  The Units are being sold by BPI.  The transaction is expected to close on or about March 14, 2008.  Closing is subject to a number of customary conditions, including receipt of all necessary regulatory approvals.

BPI currently holds Class B units ("Class B Units") of Boston Pizza Royalties Limited Partnership, which are exchangeable for 5,085,638 Units of the Fund, representing a 28.5% indirect interest in the Fund.  Prior to closing of the offering, BPI will exchange only the number of Class B Units needed for the number of Units to be sold pursuant to the offering.  Following the closing of the offering, BPI will beneficially own the equivalent of 2,140,392 Units, representing a 12.0% indirect interest in the Fund.  The Fund will not receive any proceeds from the offering.

Certain information in this press release may constitute "forward-looking" information that involves known and unknown risks, uncertainties, future expectations and other factors which may cause the actual results, performance or achievements of the Fund, the Boston Pizza Holdings Trust, the Partnership, BPI, Boston Pizza restaurants, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. When used in this press release, such information uses words including "anticipate", "estimate", "may", "will", "expect", "believe", "plan" and other similar terminology. This information reflects current expectations regarding future events and operating performance and speak only as of the date of this press release. Such forward-looking information involves a number of risks, uncertainties and future expectations including, but not limited to the risks and uncertainties set out in the Fund's management's discussion and analysis for the year ended December 31, 2007 filed on SEDAR at www.sedar.com. Forward-looking information is made as of the date hereof and, except as required by law, we assume no obligation to update or revise forward-looking information to reflect new events or circumstances.

The trustees of the Fund have approved the contents of this press 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