NORANDA INCOME FUND

NORANDA INCOME FUND

August 22, 2006 14:42 ET

Noranda Income Fund Announces Its August Cash Distribution

VALLEYFIELD, QUEBEC--(Marketwire - Aug. 22, 2006) -

Attention Business/Financial Editors:

The Noranda Income Fund (TSX:NIF.UN) announced today the monthly cash distribution for the month of August 2006 of $0.085 per unit. The distribution will be payable on September 25, 2006 to unitholders of record at the close of business on August 31, 2006.

The schedule below sets out Noranda Income Fund's cash distribution history during the last six months:



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RECORD DATE PAYMENT DATE DISTRIBUTION PER UNIT

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August 31, 2006 September 25, 2006 8.5 cents

July 31, 2006 August 25, 2006 8.5 cents

June 30, 2006 July 25, 2006 8.5 cents

May 31, 2006 June 26, 2006 8.5 cents

April 30, 2006 May 25, 2006 8.5 cents

March 31, 2006 April 25, 2006 8.5 cents

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Noranda Income Fund is an income trust whose units trade on the Toronto Stock Exchange under the symbol "NIF.UN". The Noranda Income Fund was created to acquire Falconbridge's CEZinc processing facility and ancillary assets (the "CEZinc processing facility") located in Salaberry-de-Valleyfield, Quebec. The CEZinc processing facility is the second-largest zinc processing facility in North America and the largest zinc processing facility in eastern North America, where the majority of its customers are located. It produces refined zinc metal and various by-products from zinc concentrates purchased from mining operations. The Processing Facility is operated and managed by Canadian Electrolytic Zinc Limited.

Further information about the Noranda Income Fund can be found at www.norandaincomefund.com.

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