NORANDA INCOME FUND

NORANDA INCOME FUND

May 22, 2007 08:00 ET

Noranda Income Fund Announces Its May Cash Distribution

VALLEYFIELD, QUEBEC--(Marketwire - May 22, 2007) -

Attention Business/Financial Editors:

The Noranda Income Fund (TSX:NIF.UN) announced today its monthly cash distribution for the month of May 2007 of $0.085 per unit. The distribution will be payable on June 25, 2007 to unitholders of record at the close of business on May 31, 2007.

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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May 31, 2007 June 25, 2007 8.5 cents
April 30, 2007 May 25, 2007 8.5 cents
March 31, 2007 April 25, 2007 8.5 cents
February 28, 2007 March 26, 2007 8.5 cents
January 31, 2007 February 26,2007 8.5 cents
December 31, 2006 January 25, 2007 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 owns the CEZinc processing facility and ancillary assets (the "CEZinc processing facility") located in Salaberry-de-Valleyfield, Québec. 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, a wholly-owned subsidiary of Falconbridge Limited.

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