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FOR: NORANDA INCOME FUND

Noranda Income Fund Announces Its May Cash Distribution

May 21, 2008 - 08:00 ET

VALLEYFIELD, QUEBEC--(Marketwire - May 21, 2008) - The Noranda Income Fund (TSX:NIF.UN) announced today its monthly cash distribution for the month of May 2008 of $0.085 per unit. The distribution will be payable on June 25, 2008 to unitholders of record at the close of business on May 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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May 31, 2008 June 25, 2008 8.5 cents
April 30, 20008 May 26, 2008 8.5 cents
March 31, 2008 April 25, 2008 8.5 cents
February 29, 2008 March 25, 2008 8.5 cents
January 31, 2008 February 25, 2008 8.5 cents
December 31, 2007 January 25, 2008 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, 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.

FOR FURTHER INFORMATION PLEASE CONTACT:

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