Pizza Pizza Royalty Income Fund Announces September Dividend

Toronto, Ontario, September 25, 2012 – Pizza Pizza Royalty Income Fund (the “Fund”) (TSX: PZA.UN) today announced a cash dividend of $0.06 per unit for the month of September 2012. The deemed dividend, a portion of which is return of capital, will be eligible for the enhanced dividend tax credit if paid or allocated to a resident of Canada. The dividend will be payable to unitholders of record at the close of business on September 28, 2012, and will be paid on October 15, 2012.

The Fund´s trust units are listed on the Toronto Stock Exchange under the symbol PZA.UN

Contacts:

Curt Feltner
Chief Financial Officer
Pizza Pizza Limited
(416) 967-1010
cfeltner@pizzapizza.ca

Christine D´Sylva
Director of Finance and Investor Relations
Pizza Pizza Limited
(416) 967-1010
cdsylva@pizzapizza.ca

www.pizzapizza.ca and www.pizza73.com or www.sedar.com.

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