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Criterion Water Infrastructure Fund and Criterion Global Clean Energy Fund Announce Meetings of Unitholders

TORONTO, November 24, 2010 – Each of Criterion Water Infrastructure Fund (“Water Fund”) and Criterion Global Clean Energy Fund (“Clean Energy Fund”), announces that special meetings (the “Meetings”) of unitholders of both funds will be held concurrently on Monday, January 10, 2011. If required, an adjourned meeting will be held on January 20, 2011. Unitholders of record on November 30, 2010 will be entitled to receive notice of and vote at the Meetings. The Notice and Management Information Circular which details the matters to be considered at the Meetings will be mailed to unitholders on or about December 15, 2010, and will also be available on www.sedar.com after mailing.

At the Meetings, unitholders of each Fund will be asked to approve a merger (together, the “Mergers”) of the respective Fund into a new mutual fund called Criterion Utility Plus Fund (the “Utility Plus Fund”) which is currently being established by First Asset Investment Management Inc. Utility Plus Fund will invest primarily in the equity securities of Canadian utility issuers (electric, water, gas), energy infrastructure issuers (including renewable energy and pipelines) and other regulated entities. The Mergers are proposed to form a larger, open-end mutual fund which the Manager believes will offer superior opportunities for long term growth, stable income, and which would result in enhanced liquidity and cost synergies for the benefit of unitholders. The Manager believes that the proposed Mergers are in the best interests of the unitholders of each merging Fund.

If the Mergers are approved, units of the Water Fund and the Clean Energy Fund will be exchanged for corresponding units of the Utility Plus Fund at an exchange ratio calculated by dividing the net asset value per unit of the relevant class of the relevant Fund by the net asset value per unit of the relevant class of the Utility Plus Fund, as determined at the close of business on the business day prior to the effective date of the Mergers.

If unitholders approve the Mergers, the Mergers are anticipated to be completed prior to January 31, 2011, subject to receipt of all required regulatory and third party approvals. For more information, please contact the Manager at 416-642-5998 or 1-888-642-5998 or visit www.criterioninvestments.com.