Stone Total Return Unit Trust

Stone Total Return Unit Trust

July 20, 2005 15:30 ET

Stone Total Return Unit Trust Announces Changes to Advisory Committee

TORONTO, ONTARIO--(CCNMatthews - July 20, 2005) - Stone Asset Management Limited ("Stone") is pleased to announce the appointment of Mr. Rick Patmore as a new member of Stone's advisory committee (the "Advisory Committee"), which advises Stone in respect of conflicts of interest and potential conflicts of interest involving Stone and its capacity as the manager, trustee and investment advisor of Stone Total Return Unit Trust (the "Trust"). Mr. Patmore was appointed following a resolution passed by the board of directors of Stone increasing the size of the Advisory Committee from three to four members.

Mr. Patmore was previously the President of a private oil services company, which was subsequently acquired by a publicly traded oil services trust where he also served as President. The company was a unit trust listed on the Toronto Stock Exchange ("TSX") where Mr. Patmore has also until recently served as a director.

Stone believes that Mr. Patmore's experience as a director of a TSX-listed company will be an asset to the Advisory Committee.

The Trust is a closed-end fund investing primarily in small-cap income trusts with the goal of providing investors with a steady stream of regular monthly distributions. The Trust completed its closing on April 5, 2005 and at the time of this press release has approximately $30.4 million dollars under management. The Trust is listed on the TSX under the trading symbol "SG.UN".

Contact Information

  • Stone Asset Management Limited
    Richard G. Stone