Press Releases

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

TORONTO, December 17 /CNW/ - (TSX:MEW.UN): Menu Foods Income Fund (“Menu” or the “Fund”) announced today its distribution of 10.50 cents per unit for the month of December 2003, payable on or before January 15, 2004 to unitholders of record on December 31, 2003.

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 Menu Foods GenPar Limited (the general partner of Menu Foods Limited Partnership, a subsidiary of the Fund (“MFLP”)) declared that the distribution to holders of Class B Exchangeable Units in MFLP for the fourth quarter of 2003 will be equal to the residual distributable cash of the Fund for the quarter, after giving effect to the above noted distribution, of up to 38.00 cents per Class B Exchangeable Unit. Such distribution is to be made in February 2004 after the approval of the audited financial statements of the Fund for the year ended December 31, 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 one billion containers of wet pet food per year and is focused on the manufacture and sale of premium private-label wet pet food products.

To access the conference call in real time, please call 416-640-4127 or 1-800-814-4859. A replay will be available from approximately one hour after the end of the conference call until December 4, 2003 by dialing 416-640-1917 or 1-877-289-8525, using passcode 21025276#. A live audio webcast of the conference call is available and can be accessed by entering www.newswire.ca/web cast on an Internet browser. A replay of the webcast will be available for 90 days. It can be accessed by entering www.newswire.ca/webcast on an Internet browser.

Download full details on the Menu Foods Income Fund 2003 third quarter results.

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