NEWS RELEASE FP NEWSPAPERS INCOME FUND ANNOUNCES DIRECTOR AND OFFICER APPOINTMENTS Vancouver, B.C. - October 19, 2004 -- Ronald Stern, Chairman of FP Newspapers Income Fund (TSX:FP.UN), is pleased to announce the following appointments: Susan Lewis is appointed to the board of directors of FPCN General Partner Inc., the Managing General Partner of FP Canadian Newspapers Limited Partnership. Ms. Lewis is currently the President of United Way of Winnipeg, and has been active in government and community affairs in Manitoba for many years. Ms. Lewis holds a Bachelor of Arts degree from the University of Manitoba. Daniel Koshowski, Chief Financial Officer, becomes Vice President, Finance and Administration, with a greater emphasis on supporting publishing operations and group administration, including the recently acquired weekly newspaper publishing and advertising distribution businesses. Kevin Karr, Vice President, Corporate Development and Secretary becomes Vice President, Chief Financial Officer and Secretary, with overall responsibility for financial reporting, corporate finance and investor relations. FP Newspapers Income Fund owns securities entitling it to 49% of the distributable cash of FP Canadian Newspapers Limited Partnership. FP Canadian Newspapers Limited Partnership owns the Winnipeg Free Press, the Brandon Sun, and their related businesses, as well as Canstar Community News Limited, the publisher of five community newspapers in the Winnipeg region. 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. Canstar Community News publishes weekly with an average circulation of approximately 182,000. Based in Winnipeg, the businesses employ approximately 620 people in Winnipeg, Brandon and Thunder Bay. 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. For further information please contact:
Kevin Karr, Vice President, Chief Financial Officer and Secretary
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