SIR Royalty Income Fund announces April distribution

    BURLINGTON, ON, April 12 /CNW/ - SIR Royalty Income Fund (TSX: SRV.UN)
("the Fund") today declared a cash distribution of $0.105 per trust unit for
the period March 1, 2007 to March 31, 2007. The distribution will be payable
on April 30, 2007 to unitholders of record at the close of business on April
23, 2007.

    About SIR Corp.
    SIR Corp. ("SIR") is a privately held Canadian corporation that owns and
operates a portfolio of more than 39 restaurants in Canada. SIR's concept
brands include: Jack Astor's Bar and Grill, with 23 locations; Alice
Fazooli's!, with five locations; and Canyon Creek Chop House, with seven
locations. SIR also operates one-of-a-kind "signature" brands in downtown
Toronto, which comprise the upscale reds, Far Niente & Soul of the Vine(R),
Brasserie Frisco, the casual Armadillo Texas Grill and the Loose Moose Tap &
Grill. All trademarks related to the concept and signature brands noted above
are used by SIR under a license agreement with SIR Royalty Limited Partnership
in consideration for a Royalty, payable by SIR to the Partnership, equal to
six percent of the revenue of the 38 restaurants currently included in the
Royalty pool. For more information on SIR Corp. or the SIR Royalty Income
Fund, please visit

    About SIR Royalty Income Fund
    The Fund is a trust governed by the laws of the province of Ontario that
receives distribution income from its investment in the SIR Royalty Limited
Partnership and interest income from the SIR Loan. The Fund intends to pay
distributions to unitholders on a monthly basis.

    Caution concerning forward-looking statements
    Certain statements in this news release may constitute "forward-looking"
statements which involve known and unknown risks, uncertainties and other
factors which may cause the actual results, performance or achievements of the
Fund to be materially different from any future results, performance or
achievements expressed or implied by such forward-looking statements. When
used in this document, such statements are such words as "may", "will",
"expect", "believe", "plan", "anticipate", "intend", "estimate" and other
similar terminology. These statements reflect SIR Management's current
expectations regarding future events and operating performance and speak only
as of the date of this document. The Fund and SIR expressly disclaim any
obligation or undertaking to publicly release any updates or revisions to any
forward-looking statements contained herein to reflect any change in
expectations with regard thereto or any changes in events, conditions or
circumstances on which any statement is based.
    In formulating the forward-looking statements contained herein,
management has assumed that business and economic conditions affecting SIR's
restaurants and the Fund will continue substantially in the ordinary course,
including without limitation with respect to industry conditions, general
levels of economic activity (including in downtown Toronto), regulations
(including regarding employees, food safety, tobacco and alcohol), weather,
taxes, foreign exchange rates and interest rates, that there will be no
pandemics or other outbreaks of disease or safety issues affecting humans or
animals or food products, and that there will be no unplanned material changes
in its facilities, equipment, customer and employee relations, or credit
arrangements. For more information concerning the Fund's risks and
uncertainties, please refer to the Fund's periodic interim filings, October,
2004 prospectus and/or its March 31, 2007 Annual Information Form.
    %SEDAR: 00020914E

For further information:

For further information: Jeff Good, Chief Financial Officer, SIR Corp.,
Tel: (905) 681-2997; Bruce Wigle, Investor Relations, Tel: (416) 815-0700 ext.
228, Email:

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