Press Releases

/NOT FOR RELEASE OVER US NEWSWIRE SERVICES/

TORONTO, July 16 /CNW/ - (TSE:MEW.UN): Menu Foods Income Fund announced today its July 2002 distribution of 9.79 cents per unit for the month of July 2002, payable on August 15, 2002 to unitholders of record on July 31, 2002. This represents an 11.75% 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.

Further information can be found in the disclosure documents filed by Menu Foods Income Fund with the securities regulatory authorities, available at www.SEDAR.com.

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