Premium Brands Income Fund Announces Appointment of Mr. George Paleologou, President, to the Position of President and CEO

Thu May 29, 3:00 AM

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 29, 2008) - Premium Brands Income Fund (TSX: PBI-UN.TO) is pleased to announce that its President, Mr. George Paleologou, has been appointed President and Chief Executive Officer. Mr. Paleologou will also retain his position as a Trustee of the Fund.

"Since assuming the position of President in 2002 George has played a critical role in the transformation of Premium Brands from a small commodity goods manufacturer into one of Canada's leading specialty food manufacturing and distribution businesses," said Mr. Bruce Hodge, Chairman. "George has consistently demonstrated the vision and leadership needed to ensure our success and I am confident that under his direction Premium Brands will continue to grow and prosper."

Mr. Paleologou joined a predecessor company of Premium Brands as its Corporate Controller in 1987 and since then has held several senior management positions including Vice President and Chief Financial Officer, Chief Executive Officer of Direct Plus Food Group (a subsidiary of the Fund) and President. Mr. Paleologou holds a Bachelor of Business Administration degree from Simon Fraser University and is a Chartered Accountant.

Premium Brands owns a broad range of leading branded specialty food businesses with manufacturing and distribution facilities located in British Columbia, Alberta, Saskatchewan, Manitoba and Washington. In addition, the Fund owns proprietary food distribution and wholesale networks through which it sells both its own products and those of third parties to approximately 25,000 customers. The Fund's family of brands include Grimm's, Harvest, McSweeney's, Bread Garden, Hygaard, Hempler's, Quality Fresh Foods, Gloria's Fresh, Harlan's and Centennial Foodservice.

Contacts

George Paleologou
Premium Brands Income Fund
President and CEO
(604) 656-3100

Will Kalutycz
Premium Brands Income Fund
CFO
(604) 656-3100
Website: www.premiumbrandsincomefund.com