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FOR: NORANDA INCOME FUND

Noranda Income Fund Announces Its January Cash Distribution

Jan 21, 2008 - 12:45 ET

VALLEYFIELD, QUEBEC—-(Marketwire - Jan. 21, 2008) - The Noranda Income Fund (TSX:NIF.UN) announced today its monthly cash distribution for the month of January 2008 of $0.085 per unit. The distribution will be payable on February 25, 2008 to unitholders of record at the close of business on January 31, 2008.

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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January 31, 2008 February 25, 2008 8.5 cents

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December 31, 2007 January 25, 2008 8.5 cents

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November 30, 2007 December 27, 2007 8.5 cents

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October 31, 2007 November 26, 2007 8.5 cents

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September 30, 2007 October 25, 2007 8.5 cents

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August 31, 2007 September 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 Xstrata Canada Corporation.

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



FOR FURTHER INFORMATION PLEASE CONTACT:

The Noranda Income Fund
Michael Boone
Vice President & Chief Financial Officer of Canadian Electrolytic Zinc Limited,
Noranda Income Fund's Manager
(416) 775-1561
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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