Press Release

Announces Semi-Annual Results
(For Release 4 p.m. EDT, August 31, 2000)

Toronto, August 31, 2000: 60Plus Income Trust announces results for the six months ended June 30, 2000. Net Income before distributions amounted to $11.9 million or $2.78 per unit. Net assets increased from $115.1 million to $118.9 million. Distributions to Unitholders amounted to $9.6 million or $2.25 per unit, which included special distributions of $0.75 and $0.50 in March 2000 and June 2000, respectively.

60Plus Income Trust was launched in February 1999 to provide Unitholders with a stable stream of quarterly distributions of at least $0.50 per Unit. The Trust intends to achieve its investment objectives by investing in a diversified portfolio consisting principally of common shares issued by corporations selected from the S&P/TSE 60 Index. The Trust 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 Trust 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 Trust may write cash covered put options in respect of securities in which the Trust is permitted to invest.

60Plus Income Trust offers investors the opportunity to conveniently acquire additional units of the Trust by re-investing their cash distributions through the Trust's Distribution Reinvestment Plan. Unitholders may enroll in the Plan by contacting their investment advisor.

The Trust¹s investment portfolio is managed by its investment manager, Mulvihill Capital Management Inc. Trust Units are listed on The Toronto Stock Exchange under the symbol SIX.UN.

Selected Financial Information:
($ millions)

Statement of Operations (Unaudited):
For the six months ended June 30, 2000

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

60Plus Income Trust
121 King Street West, Suite 2600
Toronto, Ontario M5H 3T9
(416) 681-3966   (800) 725-7172
premium@mulvihill.com
www.mulvihill.com