/C O R R E C T I O N from Source - Cara Operations Limited/

In c1928 sent today at 14:07e an error occurred at the end of the first
paragraph which should read "... at the close of business on July 26, 
2005." and not "... at the close of business on June 26, 2005.". Full 
corrected copy follows.

Second Cup Royalty Income Fund announces June distribution

MISSISSAUGA, ON, July 15 /CNW/ - Second Cup Royalty Income Fund ("Fund")
has announced that its Board of Trustees has approved a cash distribution of
$0.0835 per unit for the month of June to be paid on July 29, 2005 to
unitholders of record at the close of business on July 26, 2005.
The June distribution has been adjusted slightly higher by $0.002 in
order to bring the year-to-date distributions by the Fund to $0.50, in line
with the indicated annualized yield of 10.00% on the initial offering price of
$10 per unit.
The Fund is an open-ended trust established under the laws of the
Province of Ontario. It holds, through an indirect wholly-owned subsidiary,
the Canadian trade-marks and other intellectual property and associated rights
used by The Second Cup Ltd. ("Second Cup") in connection with the operation of
Second Cup cafDes in Canada. For more information on the Second Cup Royalty
Income Fund please visit www.secondcupincomefund.com.

Second Cup is Canada's largest specialty coffee cafDe franchisor and
second largest retailer of specialty coffee, as measured by number of cafDes.
For the ultimate on-line coffee experience, visit www.secondcup.com. Second
Cup is a wholly owned subsidiary of Cara Operations Limited, Canada's leading
integrated restaurant company.
%SEDAR: 00021352E