Press Releases

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

TORONTO, May 20 /CNW/ - (TSX:MEW.UN): Menu Foods Income Fund announced today its distribution of 10.50 cents per unit for the month of May 2003, payable on or before June 16, 2003 to unitholders of record on May 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.

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