Prime Restaurants Royalty Income Fund
TSX : EAT.UN

Prime Restaurants Royalty Income Fund

April 06, 2006 09:00 ET

Prime Restaurants Royalty Income Fund Reports Strong First Quarter 2006 Same Store Sales Growth

MISSISSAUGA, ONTARIO--(CCNMatthews - April 6, 2006) - Prime Restaurants Royalty Income Fund (TSX:EAT.UN) announced today that same store sales growth ("SSSG") for the royalty pooled restaurants increased 6.4% for the three months ended March 31, 2006 with each month in the quarter demonstrating positive growth. All of the regions had positive SSSG with Ontario, Prime's largest market, generating a positive 7.2% SSSG. In addition, all three of Prime's leading brands posted positive SSSG in the first quarter with the pubs at 11.3%, Casey's at 9.6% and East Side Mario's at 5.2%.

"The solid growth demonstrated over the last two quarters indicate that the numerous programs and strategies we are implementing are working," commented John Rothschild, Chairman and CEO. "Our long-term goal is to generate an annual 3% increase in same store sales growth, and we remain confident we will achieve this target."

Prime Restaurants Royalty Income Fund will issue its financial results for the three months ended March 31, 2006 by press release by May 10, 2006.

About the Royalty Income Fund

Prime Restaurants Royalty Income Fund, through PRC Trademarks Inc. ("TradeMarkCo"), is entitled to receive top-line royalties of 3.25% of the gross food and beverage revenue from pooled restaurants under the terms of a 99-year licence agreement between TradeMarkCo and Prime Restaurants of Canada Inc. ("PRC"). PRC operates and franchises a diversified portfolio of casual dining restaurants and premium pubs in Canada under the well recognized East Side Mario's, Casey's, and Fionn MacCool's brands.

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