Toronto, December 17, 2001: Mulvihill Premium Global Plus (the "Trust") has declared a year end income distribution of C$0.50 per Unit payable December 31, 2001 to unitholders of record on such date. The amount of the distribution may be subject to minor adjustment.

The Trust would also like to announce that it has completed its tax planning to realize capital losses in the portfolio to reduce the taxable income of the Trust. As a result, it is expected that some or all of the distributions will be non-taxable in 2001. The amount of the non-taxable distribution will reduce Unitholders' adjusted cost base of their Units used to calculate capital gains realized by Unitholders on ultimate redemption or other disposition of their Units.

Mulvihill Premium Global Plus was launched in September, 1999. The Trust's strategy is to invest the net proceeds from this offering 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 Trust 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 Trust will from time to time, write covered call options in respect of all or part of the common shares 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.

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

The Trust's investment portfolio is managed by its investment manager, Mulvihill Capital Management Inc. Trust Units are listed on The Toronto Stock Exchange under the symbol GIP.UN.