Press Release

Declares Year End Distributions for Thirteen Investment Portfolios
(For Release 4 p.m. EDT, December 18, 2001)

Toronto, Ontario, December 18, 2000: Mulvihill Capital Management, Canada's premier manager of Hybrid Income Funds, today declared distributions for investors in thirteen of its portfolios - Mulvihill Premium Canadian, Mulvihill Premium U.S., Mulvihill Premium Oil & Gas, Mulvihill Premium Global Telecom, Mulvihill Premium 60Plus, Mulvihill Premium Global Plus, Mulvihill Summit Digital World, Mulvihill Premium Pro-AMS U.S, Mulvihill Pro-AMS RSP, Mulvihill Pro-AMS 100Plus (CDN$) Trust, Mulvihill Pro-AMS 100Plus (US$) Trust, Premium Canadian Income Fund and Premium Global Income Fund.

The Trust's would also like to announce that they have completed its tax planning to realize capital losses in the portfolio to reduce the taxable income of the Trust's. As a result, it is expected that some or all of the distributions will be non-taxable in 2001. The amount of the non-taxable distribution will reduce Unitholders' adjusted cost base of their Units used to calculate capital gains realized by Unitholders on ultimate redemption or other disposition of their Units.

"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."

 

Symbol

Regular Distr.

Special Distr.

Total Distr. Dec 31, 2001

Total Distr. For 2001

Mulvihill Premium Income

FPI.UN

0.50

0.00

$0.50

$2.25

Mulvihill Premium U.S.

FPU.UN

0.50

0.00

0.50

2.00

Mulvihill Premium Oil & Gas

FPG.UN

0.1875

0.1875

0.3750

1.50

Mulvihill Premium 60Plus

SIX.UN

0.50

0.00

0.50

2.50

Mulvihill Premium Global Plus

GIP.UN

0.50

0.00

0.50

2.00

Mulvihill Summit Digital World

DWT.UN

0.15

n/a

0.15

0.95

Mulvihill Pro-AMS U.S.

PAM.UN

0.1875

n/a

0.1875

2.25

Mulvihill Pro-AMS RSP

PR.UN

0.1823

n/a

0.1823

1.812

Mulvihill Pro-AMS 100Plus (CDN$) Trust

PRC.UN

0.35416

n/a

0.35416

0.35416

Mulvihill Pro-AMS 100Plus (US$) Trust

PRU.U

US$ 0.28334

n/a

US$ 0.28334

US$ 0.28334

Premium Global Income Fund

MWM800

0.20

0.00

0.20

0.80

Premium Canadian Income Fund

MWM810

0.20

0.00

0.20

0.80

Mulvihill Premium Global Telecom

GT.A

0.15

0.00

0.15

1.15

Mulvihill Premium Global Telecom

GT.PR.A

0.218748

n/a

0.218748

0.875437

Distributions will be paid on December 31, 2001 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, President& CEO, Mulvihill Capital Management
Don Biggs, Vice President, Mulvihill Structured Products

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