Press Release

Announces Year End Results
(For Release 4 p.m. EDT, April 2, 2002)

Toronto, April 2, 2002: Mulvihill Pro-AMS 100 Plus (US $) (the "Trust") announces results for the period from inception of November 2, 2001 to December 31, 2001. Total results from operations amounted to a loss of C$1.9 million or C$1.03 per unit. Net assets were C$53.4 million or C$28.57 per unit, net of distributions to unitholders in the amount of C$0.8 million or C$0.45 (US$0.28) per unit.

The Trust was launched in November 2001 to provide Unitholders with a stable stream of monthly distributions targeted to be at least US$0.14167 per Unit. 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") pursuant to which RBC will agree to pay to the Trust an amount equal to US$20.00 for each Trust Unit outstanding on the Termination Date in exchange for the applicable Trust agreeing to deliver to RBC Equity Securities (the "Fixed Portfolios").

The balance of the net proceeds of the Trust will be invested in a diversified internationally focused portfolio (the "Managed Portfolio") consisting principally of equity securities (including common shares and ADRs) that are listed on a major North American stock exchange or market with an emphasis on the top 100 in each category by market capitalization of ADRs, U.S. equities and Canadian equities. The issue of such securities must have a market capitalization in excess of US$5.0 billion if listed solely in the United States or a market capitalization in excess of C$1.0 billion if listed in Canada.

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

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 PRU.U.

Selected Financial Information:
($ millions)

Statement of Net Assets		2001
Assets		C$ 53.6
Liabilities		0.2
Net Assets (Unitholders Equity)		C$ 53.4
Statement of Financial Operations (from inception):
Income		C$ 0.1
Expenses		(0.3)
Net Investment Loss		(0.2)
Net Loss on Investments		(1.7)
Total Results from Financial Operations		C$ (1.9)

For further information, contact:
John Mulvihill, President & CEO, Mulvihill Capital Management
Donald Biggs, Vice President, Mulvihill Capital Management

Pro-AMS U.S. Income Trust
121 King Street West, Suite 2600
Toronto, Ontario M5H 3T9
(416) 681-3966   (800) 725-7172
premium@mulvihill.com