MISSISSAUGA, May 10 /CNW/ - Second Cup Royalty Income Fund (TSX:SCU.UN) announces that at its annual and special meeting, held earlier today, Unitholders strongly approved (by 99.65% of votes cast) all items of regular and special business, including a proposed reorganization whereby the business of the Fund would be carried on through a newly formed trust and limited partnership owned by the Fund. Completion of the reorganization remains subject to receipt of an advance income tax ruling from Canada Revenue Agency and any third party or regulatory approvals that may be necessary in connection with the reorganization. About the Fund 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. in connection with the operation of Second Cup cafDes in Canada. The trade marks are licensed to Second Cup for 99 years for which Second Cup pays the Fund 6.5% of system sales of royalty pooled cafDes. For further information on the Fund, visit www.secondcupincomefund.com. %SEDAR: 00021352E