Menu Foods Announces That Settlement Agreement in Pet Food Litigation Receives Final Approval by Canadian Courts

Menu Foods Income Fund (TSX:MEW.UN) announced today that the Canadian courts have given final approval of the comprehensive Settlement Agreement in the Pet Food Multi-District Litigation. The Settlement Agreement had been orally approved by the United States District Court for the District of New Jersey on October 14, 2008 and the final order was signed and filed on November 17, 2008. The Settlement Agreement, the terms of which have been previously disclosed, resolves more than 100 class action lawsuits filed in U.S. and Canadian courts relating to the recall of pet food and is binding on all members of the Settlement Class, except for those individuals who have validly opted out of the settlement.

PetSmart Reports Results for the Third Quarter 2008

Earnings of $0.28 per Share; Comp Sales Growth of 5.4 Percent; Net Sales Growth of 12.1 Percent; Services Sales Growth of 15.2 Percent

PHOENIX, AZ--(MARKET WIRE)--Nov 19, 2008 -- PetSmart, Inc. (NasdaqGS:PETM ) today reported net income of $35.8 million, or $0.28 per share, for the third quarter of 2008. That compares with net income of $29.5 million, or $0.23 per share, for the third quarter of 2007.

Net sales for the third quarter of 2008 increased 12.1 percent to $1.3 billion, compared to the third quarter of 2007. Comparable store sales -- or sales in stores open at least a year -- grew 5.4 percent in the third quarter, on top of 1.4 percent growth in the same period in 2007. During the third quarter, pet services sales were $127.8 million, up 15.2 percent from the third quarter of last year.