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FOR: NORANDA INCOME FUND

Noranda Income Fund Announces Appointment of Independent Financial Advisor

Oct 25, 2010 - 16:30 ET

VALLEYFIELD, QUÉBEC--(Marketwire - Oct. 25, 2010) - Noranda Income Fund (the "Fund") (TSX:NIF.UN) announced today that the independent committee of the board of trustees (the "Independent Committee") of Noranda Operating Trust (the "Trust") has engaged TD Securities Inc. ("TD Securities") to act as the Trust's exclusive financial advisor. TD Securities will report directly to the Independent Committee, advising and assisting on efforts to explore options for the Trust to refinance its existing credit facility that expires on November 3, 2010 and its $153.5 million senior secured notes that mature on December 20, 2010. TD Securities will also work with the Fund's proxy solicitation and information agent, MacKenzie Partners, Inc., to provide advice to the Independent Committee with respect to the special meeting of unitholders of the Fund to be held on November 15, 2010.

Noranda Income Fund is an income trust whose units trade on the Toronto Stock Exchange under the symbol "NIF.UN". Noranda Income Fund was created to acquire Noranda Inc.'s CEZ processing facility and ancillary assets (the "CEZ processing facility") located in Salaberry-de-Valleyfield, Québec. The CEZ 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 CEZ processing facility is operated and managed by Canadian Electrolytic Zinc Limited.

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



FOR FURTHER INFORMATION PLEASE CONTACT:

MacKenzie Partners, Inc.,
the Fund's Proxy Solicitation and Information Agent
Lawrence Dennedy or Laurie Connell
Toll-free at 1-800-322-2885 or call collect at 212-929-5500



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