Mulvihill Pro-AMS RSP

Mulvihill Pro-AMS RSP
Mulvihill Capital Management Inc.

Mulvihill Capital Management Inc.

March 02, 2005 16:03 ET

Mulvihill Pro-AMS RSP Fund Declares Monthly Distribution




MARCH 2, 2005 - 16:03 ET

Mulvihill Pro-AMS RSP Fund Declares Monthly

TORONTO, ONTARIO--(CCNMatthews - March 2, 2005) - Mulvihill Pro-AMS RSP
(TSX:PR.UN) (the "Fund") announced today that it has declared its
monthly distribution of $0.06 per unit, payable on March 31, 2005 to
unitholders of record as of March 15, 2005. The manager would like to
reiterate the level of the managed portfolio where it would be required
to suspend distributions with the intention of providing greater
certainty to the principle protection feature. The level of the managed
portfolio at which distributions would be suspended is currently
determined to be approximately $2.40. The current level of the managed
portfolio is $2.43.

Mulvihill Pro-AMS RSP was launched in March 2001 with three investment
objectives: (1) to return at a minimum the original issue price of the
units ($25.00) to unitholders upon termination of the Fund, (2) to
provide unitholders of the Fund with monthly distributions, and (3) 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 31, 2012, 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 of companies selected from the S&P/TSX 60 Index and of
companies with a market capitalization in excess of US$5.0 billion
selected from the S&P 500 Index. 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

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 PR.UN.

Distribution Details :

Distribution per Unit: $0.06
Payable Date: March 31, 2005
Record Date: March 15, 2005
Ex-Dividend Date: March 11, 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