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FOR: NORANDA INCOME FUND

Noranda Income Fund Announces its Monthly Cash Distribution for the Month of January

Jan 20, 2006 - 09:00 ET

VALLEYFIELD, QUEBEC--(Marketwire - Jan. 20, 2006) -

Attention Business/Financial Editors:

The Noranda Income Fund (TSX:NIF.UN) announced today its monthly cash
distribution for the month of January of $0.085 per unit. The distribution
will be payable on February 27, 2006 to unitholders of record at the
close of business on January 31, 2006.

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



-------------------------------------------------------------------------
RECORD DATE PAYMENT DATE DISTRIBUTION PER UNIT
-------------------------------------------------------------------------
January 31, 2006 February 27, 2006 8.5 cents
December 31, 2005 January 25, 2006 8.5 cents
November 30, 2005 December 28, 2005 8.5 cents
October 31, 2005 November 25, 2005 8.5 cents
September 30, 2005 October 25, 2005 8.5 cents
August 31, 2005 September 26, 2005 8.5 cents
-------------------------------------------------------------------------

 


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 Falconbridge'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.

SEDAR: 00017578EF



FOR FURTHER INFORMATION PLEASE CONTACT:

Financial information: Canadian Electrolytic Zinc Limited
Michael Boone
Vice President & Chief Financial Officer
(416) 982-7188
Email: michael.boone@falconbridge.com

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

Renmark Financial Communications Inc.
Christine Stewart
(514) 939-3989
Email: cstewart@renmarkfinancial.com
Website: www.renmarkfinancial.com


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