2005 Press Releases

December 30, 2005 -News Release: Pizza Pizza Ltd. Releases 2005, Fiscal Year-End Financial Statements

December 16, 2005 - News Release : Pizza Pizza Royalty Income Fund Announces December Distribution

November 17, 2005 - News Release : Pizza Pizza Royalty Income Fund Increases Distribution in November

November 7, 2005 - News Release : Pizza Pizza Royalty Income Fund Announces 2005 Third Quarter Results

October 20, 2005 - News Release : Pizza Pizza Royalty Income Fund Announces October Distribution

September 21, 2005 -News Release : Pizza Pizza Royalty Income Fund Announces Third Distribution

August 19, 2005 - News Release : Pizza Pizza Limited Announces 4.1% Same Store Sales Growth for Second Quarter

August 12, 2005 - News Release : Pizza Pizza Royalty Income Fund Announces Second Distribution

July 27, 2005 - News Release : Pizza Pizza Royalty Income Fund Closes Exercise of Over-Allotment Option

July 20, 2005 - News Release : Pizza Pizza Royalty Income Fund Announces First Distribution

"The information posted in press releases was accurate at the time of posting, but may be superseded by subsequent news releases."