Press Release

Mulvihill Capital Management
Declares Special and Quarterly Income Distributions for Ten Investment Portfolios
(For Release 9 a.m. EDT, December 15, 2000)

Special Dividends in Canadian and U.S. Income Portfolios
Driven by Strong Underlying Sectoral Growth

Toronto, Ontario, December 15, 2000: Mulvihill Capital Management, Canada’s premier manager of enhanced yield investment products, today declared special and regular distributions for investors in ten of its portfolios – First Premium Income Trust, First Premium U.S. Income Trust, First Premium Oil & Gas Income Trust, Global Telecom Split Share Corp., 60Plus Income Trust, Global Plus Income Trust, Digital World Trust, Pro-AMS U.S Income Trust, Premium Canadian Income Fund and Premium Global Income Fund.

Mulvihill has provided investors with regular quarterly distributions derived from dividends generated from the equity securities held within the portfolios and from capital gains including those generated by writing covered call options on all or part of the securities held in the portfolios. Special distributions disburse the remaining annual net income and net capital gains of the fund to its investors so that the fund is not liable for tax.

"Our products are designed to offer investors security, stable income streams and solid returns," said John Mulvihill, Chairman and CEO, Mulvihill Capital Management. " We actively manage all our portfolios to hit distribution targets, while protecting the original capital to return to investors on termination of the funds."

  Ticker Regular Distr. Special Distr. Total Distr. Total Distr. For 2000
First Premium Income Trust FPI.UN 0.50 0.50 $1.00 $4.00
First Premium U.S. Income Trust FPU.UN 0.50 0.25 0.75 2.75
First Premium Oil & Gas
Income Trust
FPG.UN 0.1875 0.1875 0.3750 1.50
Global Telecom Split Share Corp. GT.A 0.30 0.15 0.45 2.70
Global Telecom Split Share Corp. GT.PR.A 0.22 n/a 0.22 0.88
60Plus Income Trust SIX.UN 0.50 0.50 1.00 4.00
Global Plus Income Trust GIP.UN 0.50 0.25 0.75 2.75
Digital World Trust DWT.UN 0.75 n/a 0.75 2.35*
Pro-AMS U.S. Income Trust PAM.UN 0.1875 n/a 0.1875 0.5375*
Premium Global Income Fund MWM800 0.20 0.05 0.25 0.80*
Premium Canadian Income Fund MWM810 0.20 0.05 0.25 0.25*

Regular and special distributions will be paid on December 29, 2000 to investors of record on that date.

Mulvihill Capital Management Inc. is a leading Canadian investment counsel responsible for the management of institutional and personal assets. The Company’s cohesive team of senior managers provides clients with a uniquely customized approach to asset management that emphasizes enhanced return and security of capital.


For more information, please contact:
John Mulvihill, Chairman & CEO, Mulvihill Capital Management (416) 681-3966
Don Biggs, Vice President, Mulvihill Capital Management (416) 681-3966


Mulvihill Capital Management Inc.
121 King Street West, Suite 2600
Toronto, Ontario M5H 3T9
(416) 681-3900   (800) 725-7172
premium@mulvihill.com
www.mulvihill.com