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Boston Pizza Royalties Income Fund and Boston Pizza International Inc. Announce First Quarter Results and April Distribution to Unitholders

May 08, 2009

For Immediate Release                                                                           Toronto Stock Exchange: BPF.UN


Franchise sales of $160.7 million from 323 restaurants in the Fund's royalty pool

VANCOUVER, BC, (May 8, 2009) - Boston Pizza Royalties Income Fund (the "Fund") and Boston Pizza International Inc. ("BPI") each reported today financial results for the period of January 1, 2009 to March 31, 2009 (the "Period"). A copy of the management's discussion and analysis and financial statements of the Fund and BPI for the Period are available at and The Fund will host a conference call to discuss the results on May 8, 2009 at 10:00 a.m. Pacific Time (1:00 p.m. Eastern Time). The call can be accessed by dialling 1-800-319-4610 or 604-638-5340. A replay will be available until May 15, 2009 by dialling 1-800-319-6413 or 604-638-9010 and entering the pin code: 4452 followed by # sign.

Same store sales growth ("SSSG"), the key driver of yield growth for individual Unitholders, is the increase in gross revenues of Boston Pizza restaurants as compared to the gross revenues for the same period in the previous year, where restaurants were open for the full period in each year.  SSSG is the combined result of increased customer traffic and increased average guest cheque.  SSSG was 2.8% for the Period, compared to 0.9% SSSG reported in the first quarter of 2008.  SSSG was positively impacted by a successful national menu promotion which ran in all locations during January 2009. There was no comparable promotional event during the same period one year ago. SSSG is based on gross sales, including approved national promotions and discounts, of Boston Pizza restaurants that have been opened for a minimum of 24 months.  Franchise sales, the basis upon which royalties are paid to the Fund, exclude revenue from the sale of liquor, beer, wine and tobacco and approved national promotions and discounts. On a franchise sales basis, SSSG for the Period was 0.1%, compared to 0.6% during the same period last year. Franchise sales results for the Period were negatively impacted by weaker general economic conditions.  In addition, the first quarter of 2008 had one more day than the Period due to 2008 being a leap year.  This additional day affected comparable sales results for the first quarter of 2009 versus the first quarter of 2008.

 "Boston Pizza continues to increase sales and open new locations despite the weaker general economic environment. In the first quarter of 2009, we drove restaurant sales with a new national menu feature called ‘10 for $10', several innovative promotions around sporting events and the success of our new third party gift card program. In addition, we opened seven new full service restaurants during the Period, bringing the total to 330 Boston Pizza restaurants across Canada" said George Melville, Co-Chairman and owner of Boston Pizza International Inc.


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

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