News Centre

FOR: NORANDA INCOME FUND

Motion to Institute a Class Action Against CEZinc: The Plaintiff Appeals the Decision

Jul 3, 2008 - 09:05 ET

VALLEYFIELD, QUEBEC--(Marketwire - July 3, 2008) - The Noranda Income Fund (TSX:NIF.UN) has confirmed that the plaintiff has appealed the decision of June 4, 2008 of the Honourable Judge Helene Poulin of the Superior Court of the province of Quebec that dismissed the motion to institute a class action against its' manager, Canadian Electrolytic Zinc Limited ("CEZinc"), following the release of sulphur trioxide (SO3) from the refinery in Salaberry-de-Valleyfield on August 9, 2004.

While CEZinc awaits the final outcome of this appeal, it continues to maintain that the class action suit is unfounded.

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, 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, 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:

Financial information: Canadian Electrolytic Zinc Limited
Michael Boone
Vice President & Chief Financial Officer,
Noranda Income Fund's Manager
(416) 775-1561
Email: mboone@xstrata.ca

or

CEZinc
Janick Tetreault-Moise
Communication and Public Affairs
(450) 373-9144, extension 2319
Email: jtetreault@xstratazinc.ca




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