Attention Business/Financial Editors:

Not for release over US newswire services

TORONTO, Jan. 17 /CNW/ - Menu Foods Income Fund (the "Fund" or "Menu") announced today that it is giving notification of a 7% to 9% price increase (average of all package sizes) on canned wet pet food sold to its United States private-label customers. The increase per can announced by Menu, is similar to the price increase initiated by a leading national branded wet pet food supplier.

Once implemented, Menu's price increase is expected to expand its total annualized sales by more than 2%. While costs continue to rise, the price increase will enable Menu to recover, from its United States private-label customers, the cost increases it has absorbed on cans sold to those customers since prices were last increased early in 2004. On Menu's contract-manufacturing business, cost increases are passed along to customers shortly after they are incurred.

Certain statements in this press release are "forward-looking statements" which reflect management's expectations regarding its price increase. Although the forward-looking statements are based on what management believes to be reasonable assumptions, the Fund cannot assure investors that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this press release, and the Fund does not assume any obligation to update or revise them to reflect new events or circumstances.

Menu is the leading North American private-label/contract manufacturer of wet pet food products sold by supermarket retailers, mass merchandisers, pet specialty retailers and other retail and wholesale outlets. Menu currently produces more than one billion containers per year.

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For further information: Paul K. Henderson, President & CEO, Menu Foods GenPar Limited, (905) 826-3870