Prime Restaurants Royalty Income Fund
TSX : EAT.UN

Prime Restaurants Royalty Income Fund
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East Side Mario's
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March 30, 2010 17:05 ET

Prime Restaurants Royalty Income Fund Report on Voting Results

MISSISSAUGA, ONTARIO--(Marketwire - March 30, 2010) - Prime Restaurants Royalty Income Fund (the "Fund") (TSX:EAT.UN) -

(Section 11.3 of National Instrument 51-102)

In accordance with section 11.3 of National Instrument 51-102 Continuous Disclosure Obligations, we are reporting on the matters voted upon and the outcome of the voting at the Annual and Special Meeting of Unitholders of Prime Restaurants Royalty Income Fund (the "Fund") held on March 30, 2010 in Toronto, Ontario.

  1. Appointment of Trustees

    A resolution appointing Trustees of the Fund:
    • Michael Aronovici, Paul Haggis and Steven Sharpe were appointed Trustees of the Fund to hold office until the next annual meeting of the Fund, or until the Arrangement (as defined below) becomes effective.
    • Motion passed by a show of hands at the Meeting.

  2. Appointment of Auditors

    A resolution re-appointing Auditors of the Fund:
    • PricewaterhouseCoopers LLP were re-appointed as auditors of the Fund to hold office until the next annual meeting of Fund.
    • Motion passed by a show of hands at the Meeting.

  3. Approval of Arrangement Resolution

    A special resolution attached as Appendix "A" to the management information circular of the Fund dated March 4, 2010 (the "Information Circular") approving a plan of arrangement (the "Arrangement") under section 182 of the Business corporations Act (Ontario) and all transactions contemplated thereby, all as more described in the Information Circular:
    • The special resolution was approved at the Meeting, with 98.11% of Voting Unitholders (as such term is defined in the Information Circular) voting for the special resolution and 1.89% of the Voting Unitholders voting against the special resolution.
    • The special resolution was also approved by 89.41% of the Disinterested Unitholders (as such term is defined in the Information Circular), with 10.59% of the Disinterested Unitholders voting against the special resolution.

  4. Approval of Restricted Share Plan Resolution

    A resolution attached as Appendix "H" to the Information Circular approving a restricted share plan for Prime Restaurants Inc, the entity resulting from the Arrangement, subject to the completion of the Arrangement:
    • The resolution passed by a show of hands at the Meeting.

Dated this 30th Day of March, 2010

Prime Restaurants Royalty Income Fund

Brian Elliot, Acting Chief Financial Officer - Prime Restaurants Royalty Income Fund

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