NORANDA INCOME FUND

NORANDA INCOME FUND

July 20, 2006 08:00 ET

Noranda Income Fund Announces Its Second Quarter Production and Sales and Its July Cash Distribution

VALLEYFIELD, QUEBEC--(Marketwire - July 20, 2006) -

Attention Business/Financial Editors:

The Noranda Income Fund (TSX:NIF.UN) announced today that production and sales of zinc metal in the second quarter of 2006 totalled 69,098 and 67,851 tonnes, respectively, compared to 68,692 and 67,815 tonnes in the second quarter of 2005.

Zinc Metal Production and Sales



Q2 2006 Q2 2005 YTD 2006 YTD 2005
------- ------- -------- --------

(tonnes)
Production 69,098 68,692 130,782 135,543
Sales 67,851 67,815 130,457 130,799


The Fund also announced its monthly cash distribution for the month of July 2006 of $0.085 per unit. The distribution will be payable on August 25, 2006 to unitholders of record at the close of business on July 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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July 31, 2006 August 25, 2006 8.5 cents

June 30, 2006 July 19, 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

February 28, 2006 March 27, 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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