SIR Royalty Income Fund Announces March Distribution

    BURLINGTON, ON, March 6 /CNW/ - SIR Royalty Income Fund (TSX: SRV.UN)
("the Fund") today declared a cash distribution of $0.11 per trust unit for
the period February 1, 2008 to February 29, 2008. The distribution will be
payable on March 31, 2008 to unitholders of record at the close of business on
March 17, 2008.

    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 Bar and Grill(R), 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)/FOUR(TM) & Petit Four(TM), 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 39 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
    Statements in this report that are not current or historical factual
statements may constitute forward-looking information within the meaning of
securities laws. Such forward-looking statements 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, estimates and projections regarding
future events and operating performance and speak only as of the date of this
document. Readers should not place undue importance on forward-looking
statements and should not rely upon this information as of any other date. 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, estimates and projections 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. These assumptions, although considered reasonable by SIR
management at the time of preparation, may prove to be incorrect. For more
information concerning the Fund's risks and uncertainties, please refer to the
Fund's periodic interim filings, its October 2004 final prospectus, and/or its
March 31, 2007 Annual Information Form, all of which are available under the
Fund's profile at

    %SEDAR: 00020914E

For further information:

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

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