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FOR: NORANDA INCOME FUND

Noranda Income Fund Receives Requisition for Unitholder Meeting

Aug 30, 2010 - 21:58 ET

VALLEYFIELD, QUEBEC--(Marketwire - Aug. 30, 2010) - Noranda Income Fund (the "Fund") (TSX:NIF.UN) announced today that a requisition has been received requesting that Computershare Trust Company of Canada, the Fund Trustee, call a special meeting of the unitholders of the Fund to consider removing from office all of the independent trustees of Noranda Operating Trust currently in place and replacing them with trustees to be nominated by the requisitioning beneficial unitholders. The board of trustees of Noranda Operating Trust is reviewing the requisition together with its counsel and will update the market in due course.

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:

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



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