Press Release

Declares Initial Distribution
(For Release 4 p.m. EDT, December 17, 2001)

Toronto, December 17, 2001: Mulvihill Pro-AMS 100Plus (US$) Trust (the "Trust") has declared its initial distribution of US$0.28334 per Unit (for 2 months from inception on November 1, 2001) payable December 31, 2001 to holders of record on such date.

Mulvihill Pro-AMS 100Plus (US$) Trust was launched in November 2001 to provide Unitholders with a stable stream of monthly distributions targeted to be at least C$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 (the "Forward Agreements") with Royal Bank of Canada ("RBC") pursuant to which RBC will agree to pay to the Trust an amount equal to C$25.00 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 will be invested in a diversified internationally focused portfolio (the "Managed Portfolios") 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 issues 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 billion if listed in Canada.

The Trust will, from time to time, write covered call options in respect of all or part of the securities in its Portfolio. From time to time, the Trust may hold a portion of its assets in cash equivalents. Such cash equivalents may be used to provide cover in respect of writing cash covered put options in respect of securities in which the Trust is permitted to invest, which is intended to generate additional returns and to reduce the cost of acquiring securities subject to the put options.

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.UN.

Distribution Details:

Distribution per Unit (for 2 months): US$ 0.28334
Payable Date: December 31, 2001
Record Date: December 31, 2001
Ex-Dividend Date: December 27, 2001

For more information please contact:
John Mulvihill, President & CEO, Mulvihill Capital Management
Don Biggs, Vice President, Mulvihill Structured Products

Pro-AMS 100Plus (Cdn$) Trust
121 King Street West, Suite 2600
Toronto, Ontario M5H 3T9
(416) 681-3966   (800) 725-7172