TMX group

MONCTON, NB, Sept. 12 /CNW/ - PDM Royalties Income Fund (the "Fund")
(TSX: PDM.UN) announced today that pursuant to the terms of the Subscription
Agreements and the subsequent completion of the private placement a cash
distribution of $0.11 per unit for the month of July, 2005, will be payable to
the holders of the Subscription Receipts. The distribution will be paid to
those receipt holders of record at the close of business on August 21, 2005
and will be payable on or before September 14, 2005.
The Fund issued 1,983,400 new Units increasing the issued number of units
to 7,051,092.
The Fund is a limited purpose open-ended trust established under the laws
of Ontario. The Fund will make monthly distributions of its available cash to
holders of units. The Fund indirectly owns the trade marks and intellectual
property for the Pizza Delight and Mikes Restaurants brands and has licensed
them to Pizza Delight in consideration for a royalty equal to 4% percent of
system sales.

Pizza Delight is a privately owned corporation, headquartered in Moncton,
New Brunswick. It operates franchised and corporate restaurants under the
brand names Pizza Delight(R) and Mikes(R) Restaurants. Pizza Delight(R)
operates primarily in Atlantic Canada, where it dominates the family/mid-scale
segment. Mikes(R) Restaurants operates primarily in Quebec in the casual
dining segment and the take-out and delivery segments.

For additional information on our brands visit: www.pizzadelight.com,
www.mikes.ca or www.scores.ca
%SEDAR: 00018600E