Press Release
Declares Quarterly
Income Distribution
(For Release 4 p.m.
EDT, March 15, 2001)
Toronto, March 15, 2001: First Premium Income Trust has declared a regular quarterly income distribution of C$0.50 per Unit payable March 30, 2001 to holders of record on such date.
Holders of First Premium Income Trust may elect to have their distributions re-invested into additional units by enrolling in the TrustŐs Distribution Reinvestment Plan. Unitholders should contact their broker or the Plan Agent (Montreal Trust Company of Canada) to enroll in the plan.
First Premium Income TrustŐs 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 major Canadian issuers. 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 TrustŐs investment
portfolio is managed by its investment manager, Mulvihill Capital Management
Inc. Trust Units are listed on The Toronto Stock Exchange under the symbol
FPI.UN
Distribution Details:
| Regular Distribution per Unit: | $ 0.50 |
| Payable Date: | March 30, 2001 |
| Record Date: | March 30, 2001 |
| Ex-Dividend Date: | March 28, 2001 |
For more information,
please contact:
John Mulvihill, Chairman & CEO, Mulvihill Capital Management
Don Biggs, Vice President, Mulvihill Capital Management
First
Premium Income Trust
121 King Street West, Suite 2600
Toronto, Ontario M5H 3T9
(416) 681-3900 (800) 725-7172
premium@mulvihill.com
www.mulvihill.com
