Prime Restaurants Royalty Income Fund Forms Special Committee and Engages Financial Advisor to Assist in Evaluating

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Mon Jun 29, 2009 9:00am EDT 

  MISSISSAUGA, ONTARIO, Jun 29 (MARKET WIRE) -- 
Prime Restaurants Royalty Income Fund (the "Fund") (TSX: EAT.UN)
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

Copyright 2009, Market Wire, All rights reserved.

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