Toronto, August 26, 2002: Mulvihill Premium 60 Plus (the “Fund”) announces results for the six months ended June 30, 2002. Net realized income before distributions amounted to $5.7 million or $1.33 per unit. Net assets decreased from $99.3 million to $90.3 million. Distributions to Unitholders amounted to $4.3 million or $1.00 per unit.

The Fund’s investment objectives are to provide Unitholders with a stable stream of quarterly distributions of at least $0.50 per unit. The Fund intends to achieve its investment objectives by investing in a diversified portfolio (the “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 (“ADRs”) of the top 60 corporations selected on the basis of market capitalization whose ADRs are trading on the New York Stock Exchange or NASDAQ. To generate additional returns above the dividend income earned on the Portfolio, the Fund will 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.

Mulvihill Premium 60 Plus offers investors the opportunity to conveniently acquire additional units of the Fund by re-investing their cash distributions through the Fund’s Distribution Reinvestment Plan (the “Plan”). Unitholders may enroll in the Plan by contacting their investment advisor.