Press Releases

Initial Distribution Declared (For Release 4 p.m. EDT June 16, 1999)

Toronto, June 16, 1999: 60^PLUS Income Trust (the "Trust") has declared its initial quarterly cash distribution of C$0.80 per Unit (pro-rata from inception on February 8, 1999) payable June 30, 1999 to unitholders of record on that date.

Unitholders of 60^PLUS Income Trust may elect to have their distributions re-invested into additional Units by enrolling in the Trust's Distribution Reinvestment Plan. Unitholders should contact their broker or the Plan Agent (Montreal Trust Company of Canada) to enroll in the plan.

60^PLUS Income Trust's 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.

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

Distribution Details (pro-rata):

Distribution per Unit:	$ 0.80
Payable Date:	June 30, 1997
Record Date:	June 30, 1997
Ex-Dividend Date:	June 28, 1997

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

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