NEWS RELEASE FP NEWSPAPERS INCOME FUND ANNOUNCES MONTHLY DISTRIBUTION - JUNE 2004 Vancouver, B.C. - June 18, 2004 -- FP Newspapers Income Fund (TSX:FP.UN), today announced a distribution of 10.5 cents per unit for the month of June 2004, to unitholders of record on June 30, 2004. The distribution will be paid July 29, 2004. The Fund owns securities entitling it to 49% of the distributable cash of FP Canadian Newspapers Limited Partnership. The Fund's policy is for unitholders of record on the last business day of a calendar month to receive distributions on or before the last day of the following month. Holders of units who are non-residents of Canada will be required to pay all withholding taxes payable in respect of any distributions of income by the Fund. FP Canadian Newspapers Limited Partnership owns the Winnipeg Free Press, the Brandon Sun, and their related businesses. The Winnipeg Free Press newspaper publishes seven days a week, serving Winnipeg and Manitoba with an average seven-day circulation of approximately of 128,000. The Brandon Sun also publishes seven days a week, serving the region with an average circulation of approximately 15,000. Based in Winnipeg, the businesses employ approximately 580 people in Winnipeg and Brandon. Further information can be found in the disclosure documents filed by FP Newspapers Income Fund with the securities regulatory authorities available at www.sedar.com. -- 30 --
For further information please contact: Kevin Karr, Vice President, Corporate Development and Secretary
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