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Boston Pizza Royalties Income Fund Announces March 2011 Distribution

April 08, 2011

For Immediate Release                                                                           Toronto Stock Exchange: BPF.UN


VANCOUVER, BC, April 8, 2011 - Boston Pizza Royalties Income Fund (the “Fund”) (TSX: BPF.UN) announced today a cash distribution to unitholders of 8.4 cents per unit for March 2011. The distribution will be payable to unitholders of record at the close of business on April 21, 2011 and will be paid on April 29, 2011.  The distribution of 8.4 cents per unit is approximately equal to the distribution of 11.5 cents per unit that the Fund declared each month in 2010 less the rate of the specified investment flow-through tax (”SIFT Tax”) that the Fund is liable to pay from and after January 1, 2011. The SIFT Tax also recharacterizes such distributions as eligible dividends received from a taxable Canadian corporation.  Eligible dividend treatment for distributions to unitholders will generally be beneficial to Canadian resident investors holding their Units in taxable accounts compared to the previous characterization primarily as other income.  The Fund periodically reviews distribution levels based on its policy of stable and sustainable distribution flow to unitholders.

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 all Boston Pizza restaurants in the royalty pool. 

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


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

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