Pizza Pizza Limited Adds 34 Restaurants to the Fund's Royalty Pool and Increases Ownership of the Fund to 26.3%

Pizza Pizza Royalty Income Fund (the "Fund") (TSX:PZA.UN - News) and Pizza Pizza Limited ("PPL") today announced that effective January 1, 2010, the pool of restaurants (the "Royalty Pool"), on which royalties are paid to the Fund by PPL, has been increased to include 31 new Pizza Pizza restaurants and 12 new Pizza 73 restaurants. Of the 31 new Pizza Pizza restaurants opened between January 1, 2009 and December 31, 2009, ten are traditional restaurants and 21 are non-traditional locations. The 12 Pizza 73 restaurants are comprised of ten traditional restaurants and two non-traditional locations opened between September 2, 2008 and September 1, 2009. The Royalty Pool will decrease by nine Pizza Pizza restaurants which were closed during the year, of which five were traditional and four non-traditional. With the addition of the 34 net, new restaurants, royalties are now paid to the Fund on 671 restaurants in the Royalty Pool.

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