Press Release

Mulvihill Capital Management
Declares Special and Quarterly Income Distributions
for Eight Investment Portfolios

(For Release 4 p.m. EDT, June 5, 2000)

Toronto, Ontario, June 5, 2000: Mulvihill Capital Management, Canadašs premier manager of enhanced yield investment products, today declared special and regular distributions for investors in eight of its portfolios ­ Global Telecom Split Share Corp., First Premium U.S. Income Trust, 60Plus Income Trust, Global Plus Income Trust, First Premium Income Trust, First Premium Oil & Gas Income Trust, Digital World Trust 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. In addition, the Funds may write cash covered put options in respect of securities in which the Funds are permitted to invest.

"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 Special Total Issue Price
Global Telecom Split Share Corp. GT.A $0.30 $0.70 (1) $1.00 $15.00
Global Telecom Split Share Corp. GT.PR.A 0.2194 n/a (1) 0.2194 15.00
First Premium U.S. Income Trust FPU.UN 0.50 0.25 0.75 25.00
60Plus Income Trust SIX.UN 0.50 0.50 1.00 25.00
Global Plus Income Trust GIP.UN 0.50 n/a 0.50 25.00
First Premium Income Trust FPI.UN 0.50 1.00 1.50 25.00
First Premium Oil & Gas
Income Trust
FPG.UN 0.1875 0.3750 0.5625 12.50
Digital World Trust DWT.UN n/a 0.60 0.60 15.00
Premium Global Income Fund Mutual Fund 0.20 n/a 0.20 10.00

The special distributions and regular distributions will be paid on June 30, 2000 to investors of record on June 30, 2000. (1) Global Telecom Split Share Corp. year end distribution will be paid on June 29, 2000 to shareholders of record of June 29, 2000.

Mulvihill Capital Management Inc. is a leading Canadian investment counsel responsible for the management of institutional and personal assets. The Companyšs 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