Toronto, November 19, 2001: Mulvihill Pro-AMS U.S. (the "Trust") has declared its regular monthly distribution of C$0.1875 per Unit payable November 30, 2001 to holders of record on such date.

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 Pro-AMS U.S. was launched in October, 2000 to provide Unitholders with a stable stream of monthly distributions of at least C$0.1875 per Unit. In order to achieve the monthly distribution and preservation objectives, approximately 40% of the net proceeds of the Trust have been invested in a diversified portfolio (known as the Managed Portfolio) consisting principally of equity securities of companies with a market capitalization in excess of US $5.0 billion selected from the S&P 500 Index.

To provide the Trust with the means to return the original issue price of the Units on or about the Termination Date, the Trust has entered into a forward purchase and sale agreement with Royal Bank of Canada ("RBC") to which RBC will agree to pay to the Trust an amount equal to C$25.00 for each Unit outstanding on the Termination Date in exchange for the Trust agreeing to deliver to RBC equity securities which the Trust has acquired with approximately 60% of the net proceeds of the offering (known as the Fixed Portfolio).

The Trust may from time to time, write covered call options in respect of all or part of the securities in which the Trust is permitted to invest. In addition, the Trust may write cash covered put options in respect of securities in which the Trust is permitted to invest.