TORONTO, March 29 /CNW/ - It was announced today that Michael Overs, the principal shareholder of Pizza Pizza Limited, has acquired, through a Canadian corporation, beneficial ownership of 6,600 units of the Pizza Pizza Royalty Income Fund (the "Fund"). Mr. Overs' address is c/o Pizza Pizza Limited, 580 Jarvis Street, Toronto, Ontario M4Y 2H9. Mr. Overs owns or controls a 100% ownership interest in Pizza Pizza Limited, which holds Class B units of Pizza Pizza Royalty Limited Partnership that are exchangeable for 4,563,120 units of the Fund after June 30, 2007, subject to certain conditions. In addition, Mr. Overs owns or exercises control or direction over a further 16,000 Fund units. After giving effect to the recent purchases, Mr. Overs would beneficially own, or exercise control or direction over 4,585,720 Fund units or approximately 20.36% of the outstanding Fund units assuming the full exchange of the Class B units. The units were purchased through the facilities of the Toronto Stock Exchange for investment purposes. Mr. Overs continually reviews his investment alternatives and may purchase additional Fund units from time to time in accordance with applicable laws. Pizza Pizza Limited Pizza Pizza Limited, a privately held-Canadian corporation, is one of Canada's most successful players in the quick service restaurant industry. Founded in 1967, Pizza Pizza is guided by a mission to provide the "best food, made especially for you" and a focus on quality ingredients, customer service, community contribution and continual innovation. %SEDAR: 00022262EF