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TORONTO, Nov. 15 /CNW/ - Menu Foods Income Fund announced today that it has received the consent of each of the holders of its senior secured notes to make the previously announced distribution to its unitholders on November 15, 2005 (being today), as well as an equivalent distribution on December 15, 2005. Menu Foods also received from each of the noteholders a forebearance in respect of the default under the terms of the senior secured notes.

The forebearance provides that the noteholders will disregard the existing default under the terms of the senior secured notes until December 31, 2005. During the period between now and December 31, Menu Foods and the noteholders will work together to structure a longer term solution, which solution may involve a suspension of distributions to unitholders after December 15, 2005. The management of Menu Foods is currently in the process of exploring various options, including a decrease in its indebtedness, though there can be no assurances as to their success.