Mulvihill Premium Canadian

Mulvihill Premium Canadian

March 30, 2005 09:00 ET

Mulvihill Premium Canadian Announces Year End Results


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: MULVIHILL PREMIUM CANADIAN

TSX SYMBOL: FPI.UN

MARCH 30, 2005 - 09:00 ET

Mulvihill Premium Canadian Announces Year End Results

TORONTO, ONTARIO--(CCNMatthews - March 30, 2005) - Mulvihill Premium
Canadian (the "Fund") (TSX:FPI.UN) announces results for the year ended
December 31, 2004. Total results from financial operations amounted to a
gain of $8.8 million or $1.58 per unit which included both realized and
unrealized capital gains and losses. Net assets were $110.2 million or
$19.90 per unit, net of distributions to unitholders in the amount of
$11.1 million or $2.00 per unit.

The Fund's investment objectives are to provide unitholders with a
stable stream of quarterly distributions of at least $0.50 per unit. The
Fund achieves its investment objectives by investing in a diversified
portfolio consisting primarily of common shares issued by major Canadian
issuers. In order to generate returns above the dividend income
generated by the Portfolio, the Fund may write covered call options in
respect of all or part of the securities in the Portfolio. In addition,
the Fund may write cash covered put options in respect of securities in
which the Fund is permitted to invest.

Unitholders of Mulvihill Premium Canadian may elect to have their
distributions re-invested into additional units by enrolling in the
Fund's Distribution Reinvestment Plan. Unitholders may enroll in the
Plan by contacting their investment advisor.

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 FPI.UN.



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Selected Financial Information : ($ Millions)
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Statement of Net Assets 2004
--------

Assets $ 110.4
Liabilities 0.2
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Net Assets (Unitholders Equity) $ 110.2

Statement of Financial Operations

Income $ 2.0
Expenses (2.0)
--------
Net Investment Income $ -

Net Gain on Investments 8.8

Total Results from Financial Operations $ 8.8

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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
    Don Biggs
    Vice President
    (416) 681-3966 or (800) 725-7172
    hybrid@mulvihill.com
    www.mulvihill.com
    A member of the Mulvihill Capital Management Inc. Group of Funds