Toronto, August 26, 2002: Mulvihill Premium Global Plus (the “Fund”) announces results for the six months ended June 30, 2002. Net realized income before distributions amounted to $2.9 million or $0.61 per unit. Net assets decreased from $89.7 million to $71.7 million. Distributions to Unitholders amounted to $4.8 million or $1.00 per unit.

The Fund’s strategy is to invest net proceeds from this offering in a diversified portfolio (the “Portfolio”) consisting principally of common shares issued by corporations selected from the Standard & Poor’s 100 Index and American Depository Receipts (“ADRs”) of the top 100 corporations selected on the basis of market capitalization whose ADRs 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.

MuUnitholders of the Fund may elect to have their distributions re-invested into additional Units by enrolling in the Fund’s Distribution Reinvestment Plan (the “Plan”). Unitholders may enroll in the Plan by contacting their investment advisor.