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FOR: NORANDA INCOME FUND

Noranda Income Fund Announces Its March Cash Distribution

20% REDUCTION IN SULPHURIC ACID AND ZINC PRODUCTION TO CONTINUE IN APRIL IN RESPONSE TO CONTINUED WEAKNESS IN THE SULPHURIC ACID MARKET

Mar 20, 2009 - 08:00 ET

20% REDUCTION IN SULPHURIC ACID AND ZINC PRODUCTION TO CONTINUE IN APRIL IN RESPONSE TO CONTINUED WEAKNESS IN THE SULPHURIC ACID MARKET

VALLEYFIELD, QUEBEC--(Marketwire - March 20, 2009) - The Noranda Income Fund (the "Fund") (TSX:NIF.UN) announced today its monthly distribution for the month of March 2009 of $0.04 per unit. The distribution will be payable on April 25, 2009 to unitholders of record at the close of business on March 31, 2009.

In February, the Fund had received notice from its sales agent, Xstrata Canada Corporation ("Xstrata Canada") that it was unable to arrange for sales and/or temporary storage for sulphuric acid in quantities equal to the normal rate of production. March sulphuric acid demand from the Fund's traditional customers is continuing at levels that are similar to January and February. As a result, April production of sulphuric acid and zinc will be reduced by approximately 20% from 2008 levels, since the Fund's sulphuric acid storage capacity is nearly full. The reduction in production will negatively impact the Fund's profitability and cash flow. The Fund is unable to predict with any certainty the expected duration of weak demand for sulphuric acid.

The Board of Trustees has created an Independent Committee comprised of the four independent trustees. The Independent Committee is reviewing the notice to ensure that the Fund is being treated fairly by its sales agent, Xstrata Canada.

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.

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

FOR FURTHER INFORMATION PLEASE CONTACT:

Noranda Income Fund's Manager
Mario Chapados
Chief Executive Officer
of Canadian Electrolytic Zinc Limited
(450) 373-9144 ext. 2655
www.norandaincomefund.com



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