Priszm Receives Court Approval for the Sale of 43 Restaurants and Secured Creditor Obtains Order Appointing Receiver

TORONTO, Sept. 15, 2011 /CNW/ - Priszm Income Fund (TSX: QSR.UN) ("Priszm" or the "Company") reported today that on September 14, 2011 it successfully obtained Orders from the Ontario Superior Court of Justice (Commercial List) approving the pending transactions between the Company and FMI Atlantic Inc. to sell most of its operating outlets in the Maritimes (the "FMI Transactions").  The aggregate purchase price for the outlets is $2,625,000, before customary purchase price adjustments.  The transactions are scheduled to close on September 19, 2011.

Priszm's secured lender also applied for and obtained an order appointing RSM Richter Inc. as receiver of all assets, undertakings and properties of the Priszm Entities such appointment to be effective at 12:01 a.m. on the business day after the filing of a certificate by RSM Richter Inc. certifying that the certificates contemplated by and appended to the Approval and Vesting Orders granted by the Court on September 14, 2011, in respect of the FMI Transactions have been filed with the Court.   Currently, it is anticipated that such appointment will occur on 12:01 a.m. on September 20th,

About Priszm Income Fund
Priszm Income Fund (TSX: QSR.UN) holds approximately a 60 per cent interest in Priszm Limited Partnership, which owns and operates more than 190 quick service restaurants in six provinces across Canada under the KFC, Taco Bell and Pizza Hut brands.

To find out more about Priszm Income Fund (TSX: QSR.UN), visit our website at http://www.priszm.com.

Forward-Looking Statements
Certain information in this document may constitute forward-looking statements within the meaning of securities laws that involve known and unknown risks, uncertainties, future expectations and other factors with respect to industry sector performance, business plans, activities, trends and events anticipated by the Priszm Income Fund (the "Company") and which may cause the Company's future performance and results to be materially different from those implied by the forward-looking information. In some cases, forward-looking statements can be identified by terminology such as "may," "will," "should," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential," "continue," or the negative of these terms or other comparable terminology concerning matters that are not historical facts. Forward-looking information is based on certain factors and assumptions regarding, among other things, the number of restaurants, the renewal of the franchise agreements, ability to meet capital expenditure requirements, the industry sector performance, business plans, activities, success of refinancing on commercially viable terms, trends and events anticipated by the Company. Although the Company believes that the assumptions underlying such statements are reasonable, any of the assumptions may prove to be inaccurate and, as a result, the forward-looking information may prove to be incorrect. The forward-looking information, assumptions and statements reflect the views of the Company's management with respect to future events and outcomes as of the date of this document and there should be no expectation that such information will be updated, revised and/or supplemented whether as a result of new information, changing circumstances, future events or other cause. Actual events or outcomes may be materially different and cause the performance of the Company to differ materially from any forward-looking statement.


SOURCE Priszm Income Fund

For further information:

Wilcox Group
(647) 707-9009

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Priszm Income Fund

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KIT Limited Partnership

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