Press Release

Declares Quarterly Income Distribution
(For Release 4 p.m. EDT, June 19, 2001)

Toronto, June 19, 2001: Digital World Trust [DWT.UN] has declared an income distribution of C$0.25 per Unit payable June 29, 2001 to holders of record on such date.

The Trust’s strategy is to invest the net proceeds from this offering in a diversified portfolio of Common Shares issued by leading digitally based companies. These companies are either listed on a major N.A. stock exchange or quoted on NASDAQ with a market capitalization in excess of US$5.0 billion. They must operate within the sectors of Telecommunication Services, Telecommunication Equipment Suppliers, Enabling Hardware and Software, and Related Digital Commerce, Services and Products, the “Digital World Universe”.

To generate additional returns above the dividend income earned on the portfolio, the Trust will, from time to time, write covered call options in respect of all or part of the securities in its portfolio. In addition, the Trust may write cash covered put options in respect of securities in which it is permitted to invest. Accordingly, the Trust will hold a portion of its assets in cash equivalents which will be used to provide cover in respect of the writing of cash covered put positions.

Unitholders of Digital World Trust may elect to have their distributions re-invested into additional Units by enrolling in the Trust’s Distribution Reinvestment Plan. In order to take advantage of distribution reinvestment, Unitholders should contact their broker or the Plan Agent (Computershare) as soon as possible to enroll in the plan.

The Trust’s investment portfolio is managed by its investment manager, Mulvihill Capital Management Inc. Trust Units are listed on The Toronto Stock Exchange under the symbol DWT.UN.

Distribution Details:

Distribution per Unit:

$ 0.25

Payable Date:

June 29, 2001

Record Date:

June 29, 2001

Ex-Dividend Date:

June 27, 2001


For more information, please contact:
John Mulvihill, Chairman & CEO, Mulvihill Capital Management
Donald Biggs, Vice President, Mulvihill Capital Management


Digital World Trust
121 King Street West, Suite 2600
Toronto, Ontario M5H 3T9
(416) 681-3966   (800) 725-7172
premium@mulvihill.com
www.mulvihill.com