Mulvihill Premium Split Share

Mulvihill Premium Split Share

March 30, 2005 09:00 ET

Mulvihill Premium Split Share Announces Year End Results


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: MULVIHILL PREMIUM SPLIT SHARE

TSX SYMBOL: MUH.PR.A
TSX SYMBOL: MUH.A

MARCH 30, 2005 - 09:00 ET

Mulvihill Premium Split Share Announces Year End
Results

TORONTO, ONTARIO--(CCNMatthews - March 30, 2005) - Mulvihill Premium
Split Share (TSX:MUH.A)(TSX:MUH.PR.A) (the "Fund") announces results for
the year ended January 31, 2005. Net realized income before
distributions and income tax recovery amounted to $5.1 million or $5.51
per unit. Net assets were $23.76 per unit, net of distributions to
shareholders in the amounts of $0.84 per Preferred share and $1.20 per
Class A share.

Each unit consists of one Class A share and one Preferred share.
Preferred shares receive dividends at a rate of 5.5% of their par value
of $15.00. The Fund's dividend policy on Class A shares has been set at
a rate of $1.20 per share, equivalent to 8% based on the Class A shares
initial public offering price of $15.00.

The Fund is a mutual fund corporation, which invests its net assets in a
diversified portfolio consisting principally of common shares, issued by
some or all of a group selected from the S&P/TSX Composite Index. In
order to meet its investment objectives, the Fund may, from time to time
invest up to 20% of the cost amount of its assets in common shares
issued by corporations selected from the Standard & Poors 100 Index. To
generate additional returns above the dividend income earned on the
portfolio, the Fund will from time to time, write covered call options
in respect of all or part of the common shares 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.

The Fund's investment portfolio is managed by its investment manager,
Mulvihill Capital Management Inc. The Fund's Preferred and Class A
shares are listed on The Toronto Stock Exchange under the symbols
MUH.PR.A and MUH.A.



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Selected Financial Information : ($ Millions)
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Statement of Net Assets 2004
---------
Assets $122.0
Liabilities 77.6
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Net Assets (Unitholders Equity) $44.4

Statement of Financial Operations
Income $1.3
Expenses (1.4)
---------
Net Investment Loss $(0.1)

Net Gain on Investments 5.2

Net Realized Income Before Distributions
and Income Tax Recovery $5.1
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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Mulvihill Structured Products
    John Mulvihill
    President & CEO
    (416) 681-3966 or (800) 725-7172
    or
    Mulvihill Structured Products
    Bruce Graham
    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