Pizza Delight Corporation Ltd. announces name change

    MONCTON, NB, Nov. 2 /CNW/ - Pizza Delight Corporation Ltd. announced
today that it will change its name to Imvescor Inc. effective immediately.
Company founder and Executive Chairman of the Board, Bernard Imbeault made the
decision to undergo a renaming process to better define the company, which has
evolved substantially over the years. The name Imvescor is a combination of
Imbeault's surname and the Latin verb "vescor" which means to eat or to feed,
a fitting association for the company, which has almost forty years in the
restaurant business.
    "Imvescor accurately reflects our company today. We are a multi-brand
franchisor which owns Pizza Delight, Mikes, Scores and Bâton Rouge," said
Ron Magruder, President and Chief Executive Officer of Imvescor Inc. "This is
the most appropriate name for our company given that it directly references
Bernard Imbeault, whose values and vision for the company are central to our
success. It was also important that the company name no longer refer to one
particular brand but reflect the entire focus of our business, which is
full-service restaurants." Magruder added.
    In 1968, Pizza Delight(R) was a small pizza take-out operating in
Shediac, New Brunswick. Purchased by entrepreneur Bernard Imbeault in 1969, he
developed it as a very successful franchise restaurant concept. In 2000,
Pizza Delight Corporation Ltd. acquired Mikes(R), Scores(R) in 2005, and
Bâton Rouge (R) in 2006. This year the four brands are expected to generate
$400 million in annual sales and employ 10,000 people in Atlantic Canada,
Quebec, Ontario and Alberta.

    Imvescor Inc. is a privately owned corporation which operates franchised
and corporate restaurants under the brand names Pizza Delight(R), Mikes(R),
Scores(R) and Bâton Rouge(R). Imvescor is headquartered in Moncton,
New Brunswick, and has regional offices in Montreal, Quebec and Mississauga,

    PDM Royalties Income Fund will not be affected by the name change. The
Fund indirectly owns the trade marks and intellectual property for the
Pizza Delight(R), Mikes(R), Scores(R) and Bâton Rouge(R) brands and has
licensed them to Imvescor in consideration for a royalty equal to 4% of system
sales for Pizza Delight and Mikes, and 6% for Scores and Bâton Rouge.
    %SEDAR: 00018600EF

For further information:

For further information: William Lane, CMA, Executive Vice President and
Chief Financial Officer, Imvescor Inc., (506) 853-0990,

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