Front Street Special Opportunities Canadian Fund Ltd.

Front Street Mutual Funds Limited

November 24, 2009 17:21 ET

Front Street Mutual Funds Limited, Front Street Special Opportunities Canadian Fund Ltd.: Results of Shareholder Meetings and Proposed Amalgamation

TORONTO, ONTARIO--(Marketwire - Nov. 24, 2009) -

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Front Street Mutual Funds Limited and Front Street Special Opportunities Canadian Fund Ltd. (together, the "Funds") announced that at each of their special meetings on November 24, 2009, shareholders approved special resolutions to authorize the amalgamation of the Funds.

The amalgamation of the Funds will proceed and the effective date of the amalgamation is expected to be on or about December 1, 2009, subject to all necessary regulatory approvals being obtained. Complete details of the amalgamation plan are outlined in the circular of the Funds dated October 28, 2009 (available at www.sedar.com).

At the meeting, Front Street Special Opportunities Canadian Fund Ltd. also announced that a proposed fee increase for holders of Front Street Special Opportunities Canadian Fund Ltd. Series B shares would not be implemented. In order to maintain the current fee structure for those shareholders, Series B shares will be converted to Series Y shares of Front Street Special Opportunities Canadian Fund. Accordingly, there will be no management fee increase for current Series B shareholders.

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