Mulvihill Pro-AMS 100 Plus U.S.

Mulvihill Pro-AMS 100 Plus U.S.

March 30, 2005 09:00 ET

Mulvihill Pro-AMS 100 Plus 'US $' Announces Year End Results




MARCH 30, 2005 - 09:00 ET

Mulvihill Pro-AMS 100 Plus 'US $' Announces Year End

TORONTO, ONTARIO--(CCNMatthews - March 30, 2005) - Mulvihill Pro-AMS 100
Plus (US $) (the "Fund")(TSX:PRU.U) announces results for the year ended
December 31, 2004. Total results from financial operations amounted to a
loss of C$0.6 million or C$0.35 per unit which included both realized
and unrealized capital gains and losses. Net assets were C$24.9
(US$20.7) million or C$18.05 (US$15.07) per unit, net of distributions
to unitholders in the amount of C$3.0 million or C$1.70 (US$1.29) per

Mulvihill Pro-AMS 100 Plus (US$) was launched in November, 2001 with
three investment objectives: (1) to return at a minimum the original
issue price of the units (US $20.00) 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 US$20.00 for each unit
outstanding on the Termination Date on December 30, 2016 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 (including common shares and ADRs) that are listed on a major
North American stock exchange or market with an emphasis on the top 100
in each category by market capitalization of ADRs, U.S. equities and
Canadian equities. In addition, the issuers of such securities must have
a market capitalization in excess of U.S. $5.0 billion if listed solely
in the United States or a market capitalization in excess of C$1.0
billion if listed in Canada.

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 PRU.U.

Selected Financial Information : ($ Millions)

Statement of Net Assets 2004
Assets C$ 28.8
Liabilities 3.9

Net Assets (Unitholders Equity) C$ 24.9

Statement of Financial Operations
Income C$ 0.1
Expenses (0.9)
Special Resolution Expense (0.1)
Net Investment Loss C$ (0.9)

Net Gain on Investments 0.3
Total Results from Financial Operations C$ (0.6)


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