Coastal Value Fund Inc.
TSX : CVF.pr.A

Coastal Value Fund Inc.

May 12, 2006 16:52 ET

Coastal Value Fund: Semi-Annual Results

HAMILTON, BERMUDA--(CCNMatthews - May 12, 2006) - COASTAL VALUE FUND (TSX:CVF.PR.A) announced that the net investment income for the six month period ended March 31, 2006 was $72.2 million as compared to $3.8 million in 2005.

The earnings reflect growth in realized gains generated through monetizations of portfolio holdings. Cumulative results of net investment operations rose by $28.3 million since September 30, 2005 reflecting appreciation in the Fund's holdings.

Earnings of an investment fund that are shown at market value are influenced by market pricing of the portfolio securities, which are largely dependent on factors and events which do not occur evenly year-to-year. Accordingly, readers are cautioned that the Fund's current performance may not be indicative of future results.



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In millions (except per unit or March 31, September 30,
share amounts) 2006 2005
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Net assets $ 256.3 $ 228.0
Net asset value per unit $ 87.50 $ 80.61
Net asset value per Senior preferred share $ 25.00 $ 25.00

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The board of directors declared dividends
of $0.375 per Senior preferred share on
the following dates:

Record Date Payment Date
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June 15, 2006 June 30, 2006
September 15, 2006 September 30, 2006


The Fund owns a diversified portfolio of common shares.

This press release includes certain forward looking statements including management's assessment of the Company's future plans and operations based on current views and expectations. All statements other than statements of historic facts are forward looking statements. These statements contain substantial known and unknown risks and uncertainties, some of which are beyond the Company's control. The Company's actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward looking statements. Readers should not place undue reliance on these forward looking statements which represent estimates and assumptions only as of the date on which such statements are made. The Company undertakes no obligation to publicly revise or update any forward looking statements, whether as a result of new information, future events or otherwise.

Contact Information

  • COASTAL VALUE FUND
    Gordon Flatt
    President
    441·799·2928
    914·509·1913 (FAX)