Toronto, August 22, 2003: Mulvihill Premium 60 Plus (the "Fund") announces results for the six months ended June 30, 2003. Net realized losses before distributions amounted to $(0.7) million or $(0.19) per unit. Net assets increased from $78.3 million to $80.3 million or $19.98 per unit, net of distributions to Unitholders in the amount of $4.0 million or $1.00 per unit.

The Fund's investment objectives are to provide unitholders with quarterly distributions and to return the original issue price of the units ($25.00 per unit) to unitholders upon termination of the Fund. The Fund achieves its investment objectives by investing in a diversified portfolio consisting principally of common shares issued by corporations selected from the S&P/TSX 60 Index. The Fund may also, from time to time, invest up to 20% of the cost amount of its assets in (i) common shares issued by the top 60 corporations selected on the basis of market capitalization from the S&P 100 Index or (ii) American Depository Receipts (³ADR's²) of the top 60 corporations selected on the basis of market capitalization whose ADR¹s are trading on the New York Stock Exchange or NASDAQ.

To generate additional returns above the dividend income earned on the portfolio, the Fund may from time to time, write covered call options in respect of all or part of the common shares in the Portfolio. In addition, the Fund may write cash covered put options in respect of securities in which the Fund is permitted to invest.