TMX group

HALIFAX, July 12 /CNW/ - PDM Royalties Income Fund (the "Fund") (TSX:
PDM.UN) announced today a cash distribution of $0.12 per unit for the month of
June, 2006, this reflects an annual distribution of $1.44 per unit. The
distribution will be paid to unitholders of record at the close of business on
July 21, 2006 and will be payable on or before July 31, 2006.
Royalties paid to the Fund will be adjusted annually to include the
franchise revenues of the new Pizza Delight, Mikes, and Scores restaurants
opened prior to October 2 of each year.
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, Mikes, and Scores brands and has licensed them
to Pizza Delight in consideration for a royalty equal to 4% of system sales,
and in the case of Scores, the royalty rate is 6%.

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), Mikes(R), and Scores(R) restaurants. Pizza
Delight(R) operates primarily in Atlantic Canada, where it dominates the
family/mid-scale segment. Mikes(R) and Scores(R) restaurants operate primarily
in Quebec in the family and casual dining segments and the take-out and
delivery segments.
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