Noranda Income Fund announces its January cash distribution



    VALLEYFIELD, QC, Jan. 21 /CNW/ - The Noranda Income Fund (TSX: NIF.UN)
announced today its monthly cash distribution for the month of January 2008 of
$0.085 per unit. The distribution will be payable on February 25, 2008 to
unitholders of record at the close of business on January 31, 2008.
    The schedule below sets out Noranda Income Fund's cash distribution
history during the last six months:

    
    -------------------------------------------------------------------------
    RECORD DATE            PAYMENT DATE           DISTRIBUTION PER UNIT
    -------------------------------------------------------------------------
    January 31, 2008       February 25, 2008      8.5 cents
    -------------------------------------------------------------------------
    December 31, 2007      January 25, 2008       8.5 cents
    -------------------------------------------------------------------------
    November 30, 2007      December 27, 2007      8.5 cents
    -------------------------------------------------------------------------
    October 31, 2007       November 26, 2007      8.5 cents
    -------------------------------------------------------------------------
    September 30, 2007     October 25, 2007       8.5 cents
    -------------------------------------------------------------------------
    August 31, 2007        September 25, 2007     8.5 cents
    -------------------------------------------------------------------------
    

    Noranda Income Fund is an income trust whose units trade on the Toronto
Stock Exchange under the symbol "NIF.UN". The Noranda Income Fund owns the
CEZinc processing facility and ancillary assets (the "CEZinc processing
facility") located in Salaberry-de-Valleyfield, Québec. The CEZinc processing
facility is the second-largest zinc processing facility in North America and
the largest zinc processing facility in eastern North America, where the
majority of its customers are located. It produces refined zinc metal and
various by-products from zinc concentrates purchased from mining operations.
The Processing Facility is operated and managed by Canadian Electrolytic Zinc
Limited, a wholly-owned subsidiary of Xstrata Canada Corporation.

    Further information about the Noranda Income Fund can be found at
www.norandaincomefund.com

    %SEDAR: 00017578EF




For further information:

For further information: Financial information: Michael Boone, Vice
President & Chief Financial Officer of Canadian Electrolytic Zinc Limited,
Noranda Income Fund's Manager, Tel: (416) 775-1561,
request@norandaincomefund.com; Renmark Financial Communications Inc.:
www.renmarkfinancial.com; Christine Stewart, cstewart@renmarkfinancial.com;
Christopher Wells, cwells@renmarkfinancial.com; Tel.: (514) 939-3989

Organization Profile

NORANDA INCOME FUND

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