Toronto, August 26, 2002: Mulvihill Pro-AMS 100 Plus (US $) (the “Fund”) announces results for six months ended June 30, 2002. Net realized income before distributions amounted to C$0.1 million or C$0.04 per unit. Net assets decreased from C$53.4 million to C$45.3 million or C$24.24 per Unit, net of distributions to unitholders in the amount of C$2.5 million or C$1.33 (US$0.85) per unit.

Mulvihill Pro-AMS 100 Plus (US$) was launched in November 2001 with three investment objectives: (1) to provide Unitholders with monthly distributions; (2) to return at a minimum the original issue price of the units (US $20.00) to Unitholders upon termination of the Trust; and (3) to preserve the value of the Trust’s Managed Portfolio.

To provide the Fund with the means to return the original issue price of the Units on or about the termination date, the Fund 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 Fund an amount equal to US$20.00 for each Fund Unit outstanding on the Termination Date in exchange for the Fund agreeing to deliver to RBC equity securities (the “Fixed Portfolio”).

The balance of the net proceeds of the Fund have been 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. In addition, the issuers of such securities must have a market capitalization in excess of U.S. $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 Fund may from time to time, write covered call options in respect of all or part of the securities in the Managed Portfolio. In addition, the Fund may write cash covered put options in respect of securities in which the Fund is permitted to invest