First Quarter Distribution
Toronto, March 15, 2001: First Premium U.S. Income Trust has declared a quarterly cash distribution of C$0.50 per Unit payable March 30, 2001 to holders of record March 30, 2001.
Unitholders of First Premium U.S. Income Trust may elect to have their distributions re-invested into additional units by enrolling in the TrustÕs Distribution Reinvestment Plan. Unitholders should contact their broker or the Plan Agent (Montreal Trust Company of Canada) to enroll in the plan.
First Premium U.S. Income TrustÕs investment objectives are to provide Unitholders with a stable stream of quarterly distributions of at least $0.50 per Unit. The Trust intends to achieve its investment objectives by investing in a diversified portfolio consisting primarily of common shares issued by corporations that rank in the top 50 of the Standard & PoorÕs 100 Index.
In order to generate returns above the dividend income generated by the portfolio, the Trust will write covered call options in respect of all or part of the securities in the portfolio. In addition, the Trust may write cash covered put options in respect of securities in which the Trust is permitted to invest.
The TrustÕs investment portfolio is managed by its investment manager, Mulvihill Capital Management Inc.. Trust Units are listed on The Toronto Stock Exchange under the symbol FPU.UN.