Mulvihill Premium Digital World

March 30, 2005 09:00 ET

Mulvihill Premium Digital World Announces Year End Results

NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: MULVIHILL PREMIUM DIGITAL WORLD

TSX SYMBOL: DWT.UN

MARCH 30, 2005 - 09:00 ET

Mulvihill Premium Digital World Announces Year End
Results

TORONTO, ONTARIO--(CCNMatthews - March 30, 2005) - Mulvihill Premium
Digital World (the "Fund") (TSX:DWT.UN) announces results for the year
ended December 31, 2004. Total results from financial operations amount
to a loss of $1.0 million or $0.18 per unit which included both realized
and unrealized capital gains and losses. Net assets were $17.7 million
or $3.48 per unit, net of distributions to unitholders in the amount of
$2.3 million or $0.40 per unit.

The Fund achieves its investment objectives by investing in a
diversified portfolio of Common Shares issued by leading digitally based
companies. These companies are either listed on a major North American
stock exchange or quoted on NASDAQ with a market capitalization in
excess of US$5.0 billion. They must operate within the sectors of
Telecommunication Services, Telecommunication Equipment Suppliers,
Enabling Hardware and Software, and Related Digital Commerce, Services
and Products, the "Digital World Universe".

To generate additional returns above the dividend income earned on the
portfolio the Fund may from time to time, write covered call options in
respect of all or part of the securities in its portfolio. In addition,
the Fund may write cash covered put options in respect of securities in
which it is permitted to invest.

Mulvihill Premium Digital World Fund offers investors the opportunity to
acquire additional units of the Fund by re-investing their cash
distributions through 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 DWT.UN.

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Selected Financial Information : ($ Millions)
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Statement of Net Assets                              2004
                                                     ----
Assets                                             $ 21.7
Liabilities                                           4.0
                                                      ---
Net Assets (Unitholders Equity)                    $ 17.7


Statement of Financial Operations
Income                                             $ (0.2)
Expenses                                             (0.4)
                                                     -----
Net Investment Loss                                $ (0.6)


Net Loss on Investments                              (0.4)
                                                     -----
Total Results from Financial Operations            $ (1.0)


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