Boston Pizza International Inc.

Boston Pizza International Inc.
Boston Pizza Royalties Income Fund
TSX : BPF.UN

Boston Pizza Royalties Income Fund

March 23, 2007 17:37 ET

Boston Pizza International Inc. Declares Dividends

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 23, 2007) - On February 19, 2007, Boston Pizza International Inc. ("BPI") exchanged 20,699,524 Class B Partnership Units for 1,754,222 units of the Boston Pizza Royalties Income Fund ("Fund") (TSX:BPF.UN). Following this exchange, BPI sold these units of the Fund resulting in net proceeds to BPI of $26,523,837.

BPI announced today that it has declared dividends in the amount of $21,000,000 to its shareholders of record on March 23, 2007. BPI is a privately held company and licensee of the Boston Pizza trade marks from the Boston Pizza Royalties Limited Partnership ("BPRLP"). This dividend to the shareholders of BPI has no impact on monthly distributions to unitholders of the Fund.

BPI currently holds a 20% interest in the Fund indirectly through its interest in BPRLP. BPI has agreed to retain a minimum 20% interest at least until such time as there are 275 restaurants in the Royalty Pool.

® Boston Pizza Royalties Limited Partnership. All Boston Pizza registered Canadian trade-marks and unregistered Canadian trade-marks containing the words "Boston", "BP", and/or "Pizza" are trade-marks owned by the Boston Pizza Royalties Limited Partnership and licensed by the Boston Pizza Royalties Limited Partnership to Boston Pizza International Inc.

(C) Boston Pizza International Inc. 2007.

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