SIR Royalty Income Fund announces August distribution

    BURLINGTON, ON, Aug. 9 /CNW/ -SIR Royalty Income Fund (TSX: SRV.UN) ("the
Fund") today declared a cash distribution of $0.11 per trust unit for the
period July 1, 2007 to July 31, 2007. The distribution will be payable on
August 31, 2007 to unitholders of record at the close of business on
August 20, 2007.

    About SIR Corp.

    SIR is a privately held Canadian corporation that owns and operates a
portfolio of more than 40 restaurants in Canada. SIR's concept brands include:
Jack Astor's(R) Bar and Grill, with 24 locations; Alice Fazooli's!(R), with
five locations; and Canyon Creek Chop House(R), with seven locations. SIR also
operates one-of-a-kind "signature" brands in downtown Toronto, which comprise
the upscale reds(R), Far Niente(R) & Soul of the Vine(R), Brasserie
Frisco(TM), the casual Armadillo Texas Grill(R) and the Loose Moose Tap &
Grill(R). 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 30, 2007 Annual Information Form.

    %SEDAR: 00020914E

For further information:

For further information: Peter Fowler, President & CEO, SIR Corp., Tel:
(905) 681-2997; Bruce Wigle, Investor Relations, Tel: (416) 815-0700 ext. 228,

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