Mulvihill Pro-AMS U.S.

Mulvihill Pro-AMS U.S.
Mulvihill Capital Management Inc.

Mulvihill Capital Management Inc.

February 02, 2005 16:03 ET

Mulvihill Pro-AMS U.S. Fund: Declares Monthly Distribution


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: MULVIHILL PRO-AMS U.S.

TSX SYMBOL: PAM.UN

FEBRUARY 2, 2005 - 16:03 ET

Mulvihill Pro-AMS U.S. Fund: Declares Monthly
Distribution

TORONTO, ONTARIO--(CCNMatthews - Feb. 2, 2005) - Mulvihill Pro-AMS U.S.
(TSX:PAM.UN)(the "Fund") has declared its monthly distribution of $0.04
per unit payable on February 28, 2005 to unitholders of record as of
February 15, 2005. Mulvihill Pro-AMS U.S. was launched in October, 2000
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 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 January 4, 2011 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 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 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 PAM.UN.



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Distribution Details :
-----------------------------------------------------------
Distribution per Unit: $0.04
Payable Date: February 28, 2005
Record Date: February 15, 2005
Ex-Dividend Date: February 11, 2005
-----------------------------------------------------------



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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Mulvihill Structured Products
    John Mulvihill
    President & CEO
    (416) 681-3966
    or
    Mulvihill Structured Products
    Bruce Graham
    Vice President
    (416) 681-3966 or (800) 725-7172
    hybrid@mulvihill.com
    www.mulvihill.com