TMX group

MONCTON, NB, Sept. 21 /CNW/ - PDM Royalties Income Fund (the "Fund")
(TSX: PDM.UN) and Pizza Delight Corporation Ltd. are very pleased to announce
that Terry Faulconbridge has joined the Company as Chief Operating Officer for
Mikes Restaurants.
Terry has spent thirty years in the foodservice industry in the Province
of Quebec including nine years with Mikes in the 1990's. His background also
includes Subway and McDonalds. Terry is excited to get reacquainted with his
many friends at Mikes and utilize the recent extensive research to move the
Mikes Brand forward in Quebec and beyond.
Kevin Friesen continues as the Chief Operating Officer for Pizza Delight
and Gilles Pepin as Chief Operating Officer for Scores. The entire system
development is directed by Toby Singlehurst, Chief Development Officer, who
has been working closely with the Brand COOs in fine-tuning each concept for
the Ontario market and well as enhancements in our heritage markets.

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% percent 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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