Toronto, August 22, 2003: Mulvihill Premium Global Plus (the "Fund") announces results for the six months ended June 30, 2003. Net realized losses before distributions amounted to $(2.0) million or $(0.52) per unit. Net assets were $53.1 million or $13.50 per unit, net of distributions to Unitholders in the amount of $2.0 million or $0.50 per unit.

The Fund invests in a diversified portfolio consisting principally of common shares issued by corporations selected from the Standard & Poor's 100 Index, and the top 100 corporations whose American Deposit Receipts are trading on the New York Stock Exchange or NASDAQ. In addition, in order to provide further global investment opportunities, the Fund may, from time to time, invest up to a maximum of 25% of its net asset value in World Equity Benchmark Shares that seek to provide investment results that track the performance of a specific country index compiled by Morgan Stanley Capital International Inc. To generate additional returns above the dividend income earned on the portfolio, the Fund may from time to time, write covered call options in respect of all or part of the common shares in the Portfolio. In addition, the Fund may write cash covered put options in respect of securities in which the Fund is permitted to invest.

Unitholders of Mulvihill Premium Global Plus may elect to have their distributions re-invested into additional Units by enrolling in the Fund¹s Distribution Reinvestment Plan. Unitholders may enroll in the Plan by contacting their investment advisor.