Press Release

60Plus Income Trust
Declares Quarterly & Special Income Distributions
(For Release 9 a.m. EDT, November 29, 1999)

Toronto, November 29, 1999: SixtyPlus Income Trust [SIX.UN] has declared a regular quarterly income distribution of C$0.50 per Unit payable December 31, 1999 to holders of record on such date and a special distribution of C$0.50 per Unit payable December 8, 1999 to holders of record on such date. The special distribution will ensure that the Trust distributes sufficient of its net income and net realized capital gains for 1999 so that it will not be liable for tax. The amount of the distribution may therefore be subject to minor adjustment. The total distribution for Unitholders for the 10 months ending December 31, 1999 should therefore be $2.30 per Unit (including special distributions during the period of $0.50) equivalent to a 9.2% distribution yield over 10 months on the original issue price of $25.00.

Unitholders of 60Plus Income Trust may elect to have their distributions re-invested into additional Units by enrolling in the Trust¹s Distribution Reinvestment Plan. In order to take advantage of distribution reinvestment, Unitholders should contact their broker or the Plan Agent (Montreal Trust Company of Canada) as soon as possible to enroll in the plan.

60Plus Income Trust¹s investment objectives are 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.

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

Special Distribution Details:

Special Distribution per Unit:	$ 0.50
Payable Date:	December 8, 1999
Record Date:	December 8, 1999
Ex-Distribution Date:	December 6, 1999

Regular Distribution Details:

For further information contact:
John Mulvihill, Chairman & CEO, Mulvihill Capital Management
Don 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