Press Releases

/Not for release over U.S. Newswire services./

TORONTO, Mar. 17 /CNW/ - (TSX:MEW.UN): Menu Foods Income Fund announced today its distribution of 10.50 cents per unit for the month of March 2003, payable on or before April 15, 2003 to unitholders of record on March 31, 2003. This represents a 12.60% yield on the initial public offering price of $10.00 per unit.

The Fund's policy is for unitholders of record on the last business day of a calendar month to receive distributions during the thirty days following the end of such 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.

The Fund also announced that the holders of Class B Exchangeable Units in Menu Foods Limited Partnership (a subsidiary of the Fund) shall receive 30.79 cents per unit for the period from January 1, 2003 to March 31, 2003 (9.79 cents per unit for January and 10.50 cents per unit each for February and March) payable on or before April 15, 2003.

Menu is a leading North American manufacturer of private-label wet pet food products, selling its products to supermarket retailers, mass merchandisers, pet specialty retailers and other retail and wholesale outlets. Menu currently produces more than 800 million containers of wet pet food per year and is focused on the manufacture and sale of premium private-label wet pet food products.

For further information: Mark Wiens, Chief Financial Officer, Menu Foods GenPar Limited, (905) 826-3870