Mulvihill Pro-AMS 100 Plus

Mulvihill Pro-AMS 100 Plus
Mulvihill Capital Management Inc.

Mulvihill Capital Management Inc.

May 04, 2005 16:03 ET

Mulvihill Pro-AMS 100 Plus 'CDN$' Suspends Monthly Distribution




MAY 4, 2005 - 16:03 ET

Mulvihill Pro-AMS 100 Plus 'CDN$' Suspends Monthly

TORONTO, ONTARIO--(CCNMatthews - May 4, 2005) - Mulvihill Pro-AMS 100
Plus (Cdn$) (the "Fund") (TSX:PRC.UN) has announced a suspension of its
monthly distribution to unitholders. Further to a press release on April
4, 2005 the manager has determined that $3.50 is the required minimum
level of the managed portfolio to continue paying distributions to
unitholders. The current level of the managed portfolio is $3.40.
Consequently distributions have been suspended.

The Fund's investment objectives are to return at a minimum the original
issue price of the units (Cdn $25.00) to unitholders upon termination of
the Fund and to preserve the value of the Fund's Managed Portfolio.

The forward purchase and sale agreement remains in force with Royal Bank
of Canada ("RBC") pursuant to which RBC will agree to pay to the Fund an
amount equal to the original issue price of C$25.00 for each unit
outstanding on the Termination Date on December 30, 2016 in exchange for
the Fund agreeing to deliver to RBC equity securities known as the Fixed
Portfolio. The Managed Portfolio consists principally of equity
securities (including common shares and ADRs) that are listed on a major
North American stock exchange or market with an emphasis on the top 100
in each category by market capitalization of ADRs, U.S. equities and
Canadian equities. In addition, the issuers of such securities must have
a market capitalization in excess of U.S. $5.0 billion if listed solely
in the United States or a market capitalization in excess of C$1.0
billion if listed in Canada.

The Fund may from time to time, write covered call options in respect of
all or part of the securities in the Managed Portfolio. In addition, the
Fund may write cash covered put options in respect of securities in
which the Fund is permitted to invest.

The Fund's investment portfolio is managed by its investment manager,
Mulvihill Capital Management Inc. Fund units are listed on The Toronto
Stock Exchange under the symbol PRC.UN.

Distribution Details:
Distribution per Unit: C$ nil
Payable Date: May 31, 2005
Record Date: May 16, 2005
Ex-Dividend Date: May 12, 2005


Contact Information

    Mulvihill Structured Products
    John Mulvihill
    President & CEO
    (416) 681-3966 or (800) 725-7172
    Mulvihill Structured Products
    Bruce Graham
    Vice President
    (416) 681-3966 or (800) 725-7172
    A member of the Mulvihill Capital Management Inc. Group of Funds