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FOR: NORANDA INCOME FUND

Noranda Income Fund Announces Its August Cash Distribution

Aug 22, 2007 - 08:00 ET

VALLEYFIELD, QUEBEC--(Marketwire - Aug. 22, 2007) -

Attention Business Editors:

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

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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August 31, 2007 September 25, 2007 8.5 cents
July 31, 2007 August 27, 2007 8.5 cents
June 30, 2007 July 25, 2007 8.5 cents
May 31, 2007 June 25, 2007 8.5 cents
April 30, 2007 May 25, 2007 8.5 cents
March 31, 2007 April 25, 2007 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 owns the CEZinc processing facility and ancillary assets (the "CEZinc processing facility") located in Salaberry-de-Valleyfield, Québec. 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, a wholly-owned subsidiary of Falconbridge 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.
Christine Stewart
(514) 939-3989
Email: cstewart@renmarkfinancial.com

or

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


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