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FOR: NORANDA INCOME FUND

Noranda Income Fund Announces Its December Cash Distribution

Dec 18, 2006 - 08:00 ET

VALLEYFIELD, QUEBEC--(Marketwire - Dec. 18, 2006) -

Attention Business/Financial Editors:

The Noranda Income Fund (TSX:NIF.UN) announced today the monthly cash distribution for the month of December 2006 of $0.085 per unit. The distribution will be payable on January 25, 2007 to unitholders of record at the close of business on December 31, 2006.

The schedule below sets out Noranda Income Fund's cash distribution history during the last six months:



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RECORD DATE PAYMENT DATE DISTRIBUTION PER UNIT
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December 31, 2006 January 25, 2007 8.5 cents
November 30, 2006 December 27, 2006 8.5 cents
October 31, 2006 November 27, 2006 8.5 cents
September 30, 2006 October 25, 2006 8.5 cents
August 31, 2006 September 25, 2006 8.5 cents
July 31, 2006 August 25, 2006 8.5 cents
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Noranda Income Fund is an income trust whose units trade on the Toronto Stock Exchange under the symbol "NIF.UN". The Noranda Income Fund was created to acquire Xstrata's CEZinc processing facility and ancillary assets (the "CEZinc processing facility") located in Salaberry-de-Valleyfield, Quebec. The CEZinc processing facility is the second-largest zinc processing facility in North America and the largest zinc processing facility in eastern North America, where the majority of its customers are located. It produces refined zinc metal and various by-products from zinc concentrates purchased from mining operations. The Processing Facility is operated and managed by Canadian Electrolytic Zinc Limited.

Further information about the Noranda Income Fund can be found at www.norandaincomefund.com.



FOR FURTHER INFORMATION PLEASE CONTACT:

Financial information:
Michael Boone
Vice President & Chief Financial Officer of Canadian Electrolytic Zinc Limited,
Noranda Income Fund's Manager
(416) 982-7188
Email: request@norandaincomefund.com
Website: www.norandaincomefund.com

or

Renmark Financial Communications Inc.
Sylvain Laberge
(514) 939-3989
Email: slaberge@renmarkfinancial.com

or

Renmark Financial Communications Inc.
Christopher Wells
(514) 939-3989
Email: cwells@renmarkfinancial.com
Website: www.renmarkfinancial.com


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