Pizza Pizza Royalty Corp.TSX: PZA

Pizza Pizza Royalty Income Fund to Release Third Quarter Results Late October

· Issued by Pizza Pizza Royalty Corp. via CNW

TORONTO, Oct. 8 /CNW/ - Pizza Pizza Royalty Income Fund (the "Fund") (TSX: PZA.UN) today announced that it will release its financial results for the quarter ended September 30, 2008 at the close of market on October 30, 2008.

The Fund invites analysts and portfolio managers to participate in a conference call with Curt Feltner, Chief Financial Officer and Pat Finelli, Chief Marketing Officer to discuss the results. The call will take place on Friday, October 31, 2008 at 9:00 a.m. Unitholders and media are also invited to listen to the call.

Details of the Conference Call:

Date:                       Friday, October 31, 2008
Time:                       9:00 a.m. EST
Call in number:             416-640-3406 or 1-866-322-8032
Recording call in number:   647-436-0148 or 1-888-203-1112
                            available until midnight, Thursday,
                            November 13, 2008
Reservation number:         4270861

About the Fund

The Fund is a limited purpose, open-ended trust established under the laws of Ontario to indirectly acquire the trademarks and trade names used by Pizza Pizza Limited ("Pizza Pizza") in its Pizza Pizza and Pizza 73 branded restaurants.

A key attribute of the Fund is that royalty revenues are based on top-line, system sales of the Royalty Pool restaurants and not on the profitability of either Pizza Pizza or the restaurants in the Royalty Pool. The success of the Fund depends primarily on the ability of Pizza Pizza to maintain and increase system sales of the Royalty Pool and to meet its royalty obligations.

The Fund's trust units are listed on the Toronto Stock Exchange under the symbol PZA.UN.

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