ADVISORY

FP NEWSPAPERS INCOME FUND ANNOUNCES FIRST QUARTER RESULTS CONFERENCE CALL AND AGM WEBCAST

Winnipeg, MB - April 19, 2004 -- Members of the investment community and media are invited to participate in a conference call to review FP Newspapers Income FundŐs results for the first quarter of 2004 and listen to a live webcast of the companyŐs annual general meeting.

Ron Stern, Chairman; Rudy Redekop, President; Murdoch Davis, Publisher; and Dan Koshowski, CFO will discuss the 2004 first quarter results. The review will be followed by a question and answer session.

What: FP Newspapers Income Fund First Quarter Conference Call and AGM Webcast
When: Thursday, April 29, 2004.
The company members will review the Q1 results at 3:15 p.m. EST (2:15 p.m. CST). The AGM will begin at 4:00 p.m. EST (3:00 p.m. CST)
How: Conference call (first quarter results)
Participants may join the call by dialing 416-406-4206 or dial toll free at 1-866-546-6145 five minutes prior to at 3:15 p.m. EST. The call will be available at any time for replay until May 5, 2004. To hear the replay dial 416-695-5800 or dial toll free at 1-800-408-3053. The order number for replay is 3038856.

Web cast (annual general meeting)
To access the webcast live, go to:
http://www.newswire.ca/en/webcast/viewEvent.cgi?eventID=792220

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.

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For further information please contact:
Dan Koshowski, Chief Financial Officer
FP Canadian Newspapers Limited Partnership
Phone (204) 697-7425
dan.koshowski@freepress.mb.ca


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