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Imvescor Restaurant Group Inc.

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PDM Royalties Income Trust clarifies its expected dividend policy following unitholder approval and the fund's conversion to corporate status and amalgamation with Imvescor

MONCTON, NB, Aug. 28 /CNW Telbec/ - PDM Royalties Income Fund (or "PDM" or the "Fund") (TSX: PDM.UN, PDM.DB) issued a clarification today concerning the expected distribution policy of Imvescor Restaurant Group (or "IRG"), the new publicly traded entity that will result from the conversion of the Fund to corporate status and subsequent amalgamation with Imvescor Inc. (the "Arrangement"), if such conversion is approved and the annual and special meeting of unitholders to be held on September 4, 2009.

While the current trustees of the Fund (the "Trustees") cannot bind the proposed board of directors of the new company -which will be formed upon the Arrangement taking effect, it is anticipated that the board of IRG will set dividend rates at levels which approximate the current annualized rate of distributions from the Fund, subject to business conditions and the amount of distributable cash each quarter. The current monthly distribution is set at $0.05 per unit, which is equivalent to $0.60 per unit on an annualized basis.

All Trustees have been nominated to sit on the new board of directors of Imvescor Restaurant Group, following approval of the transaction by unitholders. In addition, all proposed directors of IRG understand and acknowledge the desire of unitholders to continue to receive significant distributions from the new company, in the form of dividends.

Investors are reminded that PDM has already stated publicly that, following the completion of the Arrangement, IRG is expected to adopt a cash management policy that will enable the company to pay regular dividends in order to provide a significant level of current income to shareholders, while providing the new company with flexibility to repay debt and/or repurchase convertible debentures and shares in the market in a manner that will maximize long term shareholder value.

Taxable investors in Canada are taxed on dividends at an attractive rate compared to other forms of after-tax income. Investors should consult their financial advisors to understand the impact on their personal tax situation of receiving dividend income.

An investor presentation has been made available under the "Structure" tab of the PDM website (http://www.pdmfundweb.ca) to assist unitholders in understanding the Arrangement and IRG, the company that will result from the amalgamation of PDM and Imvescor (and other entities).

Voting Instructions

With the Annual and Special Meeting of Unitholders fast approaching on September 4, 2009, unitholders are encouraged to submit their form of proxy in favour of the Arrangement before September 2, 2009 at 5:00 pm ADT (Atlantic Time). Unitholders should vote using one of the quicker options available as noted on the management form of proxy, preferably by telephone, internet or fax, where applicable.

For more information on how to vote your proxy or to request a free copy of the Management Circular and related materials, please contact the Fund's Solicitation Agent, Kingsdale Shareholder Services, at 1-800-775-4067.

About PDM Royalties Income Fund

The Fund is a limited purpose open-ended trust established under the laws of Ontario. The Fund indirectly owns the trademarks and intellectual property for the Pizza Delight(R), Mikes(R), Scores(R), and Baton Rouge(R) brands and has licensed them to Imvescor in consideration for a royalty equal to 4% of system sales for Pizza Delight(R) and Mikes(R) restaurants, and a royalty rate of 6% for Scores(R) and Baton Rouge(R) restaurants.

About Imvescor

Imvescor is a privately owned corporation, headquartered in Moncton, New Brunswick. 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. Baton Rouge(R) operates in the Province of Quebec and Ontario in the casual dining segment.

Forward-Looking Statements

Certain information regarding the Fund contained herein may constitute forward-looking statements within the meaning of applicable securities laws. Forward-looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Although the Fund believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. The Fund cautions that actual performance will be affected by a number of factors, many of which are beyond the Fund's control, and that future events and results may vary substantially from what the Fund currently foresees. Discussion of the various factors that may affect future results is contained in the annual information form of the Fund and the information circular in respect of the upcoming annual and special meeting, which are available at www.sedar.com. The Fund assumes no obligation to update such forward-looking statements, except as required by applicable securities laws. The Fund's forward-looking statements are expressly qualified in their entirety by this cautionary statement.

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