Business News

FP Newspapers Income Fund Announces Monthly Distribution-March 2009

Friday 13. March 2009 - FP Newspapers Income Fund (TSX:FP.UN), today announced a distribution of 9.50 cents per unit for the month of March 2009, to unitholders of record on March 31, 2009. The distribution will be paid April 29, 2009.

The Fund owns securities entitling it to 49% of the distributable cash of FP Canadian Newspapers Limited Partnership. The Fund’s policy is for unitholders of record on the last business day of a calendar month to receive distributions on or before the last day of the following month. Holders of units who are non-residents of Canada will be required to pay all withholding taxes payable in respect of any distributions of income by the Fund.

FP Canadian Newspapers Limited Partnership owns the Winnipeg Free Press, the Brandon Sun, and their related businesses, as well as Canstar Community News Limited, the publisher of seven community and special interest newspapers in the Winnipeg region. The Winnipeg Free Press newspaper publishes seven days a week, serving Winnipeg and Manitoba with an average seven-day circulation of approximately 124,000 copies. The Brandon Sun also publishes seven days a week, serving the region with an average circulation of approximately 14,000 copies. Canstar Community News publishes weekly with an average circulation of approximately 206,000 copies. Based in Winnipeg, the businesses employ approximately 630 people in Winnipeg, Brandon and Thunder Bay.