Press Release

Declares Monthly Distribution
(For Release 4 p.m. EDT, May 16, 2002)

Toronto, May 16, 2002: Mulvihill Pro-AMS 100 Plus (US$) (the "Trust") has declared its regular monthly distribution of US$0.14167 per Unit payable May 31, 2002 to holders of record on such date.

Mulvihill Pro-AMS 100 Plus (US$) 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 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 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.

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.

Distribution Details:

Distribution per Unit: US$ 0.14167
Payable Date: May 31, 2002
Record Date: May 31, 2002
Ex-Dividend Date: May 29, 2002

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