Mulvihill Premium U.S.

Mulvihill Premium U.S.

March 30, 2005 09:00 ET

Mulvihill Premium U.S. Announces Year End Results


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: MULVIHILL PREMIUM U.S.

TSX SYMBOL: FPU.UN

MARCH 30, 2005 - 09:00 ET

Mulvihill Premium U.S. Announces Year End Results

TORONTO, ONTARIO--(CCNMatthews - March 30, 2005) - Mulvihill Premium
U.S. (the "Fund") (TSX:FPU.UN) announces results for the year ended
December 31, 2004. Total results from financial operations amounted to a
loss $3.1 million or $0.33 per unit which included both realized and
unrealized capital gains and losses. Net assets were $98.9 million or
$12.34 per unit, net of distributions to unitholders in the amount of
$15.0 million or $1.60 per unit.

The Fund invests in a diversified portfolio consisting primarily of
common shares issued by corporations that rank in the top 50 of the
Standard & Poors 100 Index on the basis of market capitalization. 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.

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 U.S. may elect to have their
distributions reinvested 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 FPU.UN.



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

Assets $ 116.2
Liabilities 17.3
----
Net Assets (Unitholders Equity) $ 98.9

Statement of Financial Operations

Income $ (1.4)
Expenses (2.5)
-----
Net Investment Loss (3.9)
Net Gain on Investments 0.8

Total Results from Financial Operations $ (3.1)
---------------------------------------------------------


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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