Press Release

Mulvihill Capital Management
Declares Special and Quarterly Income Distributions for Five Investment Portfolios
(For Release 9 a.m. EDT, November 29, 1999)

Toronto, Ontario, November 29, 1999: Mulvihill Capital Management, Canadaıs premier manager of enhanced yield investment products, today declared special and regular distributions for investors in five of its portfolios ­ Global Telecom Split Share Corp., First Premium U.S. Income Trust, First Premium Income Trust, 60Plus Income Trust and Global Plus Income Trust.

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 1999
Global Telecom Split Share Corp. GT.A $0.30 $5.00 $5.30 $8.20
Global Telecom Split Share Corp. GT.PR.A 0.2189 n/a 0.2189 0.8750
First Premium U.S. Income Trust FPU.UN 0.50 2.00 2.50 4.50
60Plus Income Trust SIX.UN 0.50 0.50 1.00 2.30
Global Plus Income Trust GIP.UN 0.60 0.15 0.75 0.75
First Premium Income Trust FPI.UN 0.50 0.50 1.00 2.50

The special distributions will be paid on December 8, 1999 to investors of record as of that date. Regular distributions will be paid on December 31, 1999 to investors of record on December 31, 1999.

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