Mulvihill Pro-AMS U.S.

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

Mulvihill Capital Management Inc.

March 02, 2005 16:03 ET

Mulvihill Pro-AMS U.S. Fund Declares Monthly Distribution and Provides Additional Distribution Guidance




MARCH 2, 2005 - 16:03 ET

Mulvihill Pro-AMS U.S. Fund Declares Monthly
Distribution and Provides Additional Distribution

TORONTO, ONTARIO--(CCNMatthews - March 2, 2005) - Mulvihill Pro-AMS U.S.
(the "Fund")(TSX:PAM.UN) has declared its monthly distribution of $0.04
per unit payable on March 31, 2005 to unitholders of record as of March
15, 2005. Further to distribution guidance provided on August 5, 2004
the manager has determined that $2.00 is the required minimum level of
the managed portfolio to continue paying distributions to unitholders.
The current level of the managed portfolio is $1.94. Consequently
distributions will be suspended following the March distribution.

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.

Distribution Details :
Distribution per Unit: $0.04
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
    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