Normal Course Issuer Bid by Priszm Income Fund



    TORONTO, Aug. 14 /CNW/ - Priszm Income Fund (the "Fund") (TSX : QSR.UN)
announced today that the Toronto Stock Exchange (the "TSX") has approved its
notice of intention to make a normal course issuer bid for its units ("Units")
as appropriate opportunities arise from time to time. The Fund's normal course
issuer bid will be made in accordance with the policies of the TSX. The Fund
may purchase its Units during the period from August 18, 2008 to
August 17, 2009.
    Pursuant to the notice, the Fund intends to acquire up to a maximum, per
trading day, of 10,793 Units, being approximately 25% of the average daily
trading volume, and up to a maximum, in a 12-month period, of 1,271,585 Units,
being approximately 10% of the public float. There are 15,572,569 Units
outstanding as of August 5, 2008. Purchases will be made at market prices
through the facilities of the TSX. Any tendered Units taken up and paid for by
the Fund will be cancelled. The Fund believes that the ongoing purchase of its
outstanding Units is an appropriate use of its resources at this time and will
afford liquidity to anyone who desires to sell their Units.

    About Priszm Income Fund

    The Fund has a 60.3 per cent interest in Priszm LP, which owns and
operates 466 quick service restaurants in seven provinces across Canada. The
KFC, Taco Bell and Pizza Hut restaurants under Priszm serve 1.5 million
customers a week and employ approximately 9,400 people. Currently,
102 locations are multi-branded, combining two or more of the Fund's
restaurant concepts. To find out more about the Fund, visit our website at
http://www.priszm.com.

    Forward-looking Statements

    Any forward-looking statements in this document are based on current
expectations that are subject to significant risks and uncertainties that are
difficult to predict. Actual results might differ materially from projections
suggested in any forward-looking statements due to factors such as the
competitive nature of the quick service restaurant industry, the ability of
Priszm and Priszm LP to execute a growth and development strategy, the
reliance of Priszm and Priszm LP on key personnel, the terms and conditions of
Priszm LP's franchise arrangements, and risk associated with the structure of
income trusts. Priszm and Priszm LP assume no obligation to update the
forward-looking statements, or to update the reasons why actual results could
differ from those reflected in the forward-looking statements.
    Additional information identifying risks and uncertainties is contained
in Priszm's filings with the Canadian securities regulators, available at
www.sedar.com.

    %SEDAR: 00019884E




For further information:

For further information: Investors, Trish Moran, (416) 739-2906,
trish.moran@priszm.com; Media, Wilcox Group, (416) 203-6666,
priszm@wilcoxgroup.com

Organization Profile

PRISZM INCOME FUND

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KIT LIMITED PARTNERSHIP

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