NORANDA INCOME FUND

NORANDA INCOME FUND

October 20, 2006 08:00 ET

Noranda Income Fund Announces Its October Cash Distribution

VALLEYFIELD, QUEBEC--(Marketwire - Oct. 20, 2006) -

Attention Business/Financial Editors:

The Noranda Income Fund (TSX:NIF.UN) announced today the monthly cash distribution for the month of October 2006 of $0.085 per unit. The distribution will be payable on November 27, 2006 to unitholders of record at the close of business on October 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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October 31, 2006 November 27, 2006 8.5 cents
September 30, 2006 October 25, 2006 8.5 cents
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
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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.

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