MISSISSAUGA, ONTARIO--(Marketwire - 06/29/09) - Prime Restaurants Royalty Income Fund (the "Fund") (TSX:EAT.UN - News) announced today that its affiliate, PRC Trademarks Inc. ("TradeMarkCo"), formed a special committee to evaluate strategic alternatives for the Fund and TradeMarkCo. The special committee will be chaired by Ken Purdy, director of TradeMarkCo, and will include Douglas Black, Kris Matthews and Doug Queen, each a trustee of the Fund and a director of TradeMarkCo. The special committee has engaged TD Securities Inc. as exclusive financial advisor to the special committee and the Fund in this evaluation of strategic alternatives. While this evaluation will cover a broad range of alternatives, there can be no assurance that any transaction will be concluded as a result.

The Fund is a limited purpose trust established to invest in TradeMarkCo, which owns the trade-marks for the East Side Mario's, Casey's, Fionn MacCool's, Pat & Mario's, D'Arcy McGee's, Paddy Flaherty's, Tir nan Og and Bier Markt brands. TradeMarkCo licenses the use of its trade-marks to Prime Restaurants of Canada Inc. ("PRC"), which operates and franchises the restaurant and bar businesses. In return, TradeMarkCo receives royalty income based on 3.25% of gross revenue from the royalty pooled restaurants operated and franchised by PRC.

 
Contacts:
PRC Trademarks Inc.
Ken Purdy
Chairman, Special Committee
(416) 456-2775
ken.purdy@sympatico.ca
Prime Restaurants of Canada
John Rothschild
Chairman and CEO
(905) 568-0000
jrothschild@primerestaurants.com
www.primerestaurants.com