Noranda Income Fund announces its October cash distribution



    VALLEYFIELD, QC, Oct. 22 /CNW/ - The Noranda Income Fund (TSX: NIF.UN)
announced today its monthly cash distribution for the month of October 2007 of
$0.085 per unit. The distribution will be payable on November 26, 2007 to
unitholders of record at the close of business on October 31, 2007.

    
    The schedule below sets out Noranda Income Fund's cash distribution
    history during the last six months:

    -------------------------------------------------------------------------
    RECORD DATE             PAYMENT DATE               DISTRIBUTION PER UNIT
    -------------------------------------------------------------------------
    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
    July 31, 2007           August 27, 2007            8.5 cents
    June 30, 2007           July 25, 2007              8.5 cents
    May 31, 2007            June 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 Falconbridge Limited.
    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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