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Imvescor Restaurant Group Inc.

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PDM Royalties Income Fund Announces July Cash Distribution

MONCTON, NB, Aug. 8 /CNW/ - PDM Royalties Income Fund (the "Fund") (TSX:
PDM.UN) announced today a cash distribution of $0.11 per unit for the month of
July, 2005, this reflects an annual distribution of $1.32 per unit. The
distribution will be paid to unitholders of record at the close of business on
August 21, 2005 and will be payable on or before August 31, 2005.
For those unitholders holding units outside a tax deferred plan, the Fund
estimates that the 2005 distributions will be treated approximately as 78%
taxable income and 22% as a return of capital. The proportion of these figures
may change when the actual results for the fiscal year are calculated.
Royalties paid to the Fund will be adjusted annually to include the franchise
revenues of the new Pizza Delight and Mikes 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 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 two brands visit: www.pizzadelight.com
or www.mikes.ca
%SEDAR: 00018600E

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