Press Releases

Criterion Funds Announce Completion of Merger

TORONTO, February 3, 2011 Criterion Water Infrastructure Fund ("Water Fund"), Criterion Global Clean Energy Fund ("Clean Energy Fund") and Criterion Utility Plus Fund ("Utility Plus Fund") announce the completion of their mergers effective February 3, 2011.

In connection with the merger of Water Fund into Utility Plus Fund, former Unitholders of Water Fund received the corresponding class of units of Utility Plus Fund in accordance with the following table:

Class of Units of
Water Fund
Utility Plus Units Issued
per Water Fund *
Class of Units of
Water Fund
Utility Plus Units Issued
per Water Fund *
A 0.6320 Class A L 0.6333 Class A
B 0.6315 Class A M 0.6332 Class A
C 0.6489 Class A N 0.6483 Class A
D 0.6553 Class A O 0.6536 Class A
F 0.6839 Class F P 0.6833 Class F

* The exchange ratio was determined by dividing (i) the net asset value per unit of a particular class of Water Fund as at the close of business on February 2, 2011 by (ii) the net asset value per unit of the corresponding class of Utility Plus Fund as at the close of business on February 2, 2011.

In connection with the merger of Clean Energy Fund into Utility Plus Fund, former Unitholders of Clean Energy Fund received the corresponding class of units of Utility Plus Fund in accordance with the following table:

Class of Units of
Clean Energy Fund
Utility Plus Units Issued
per Clean Energy Fund Unit *
H 0.5551 Class A
F 0.5872 Class F
U 0.6224 Class A
P 0.6547 Class F

* The exchange ratio was determined by dividing (i) the net asset value per unit of a particular class of Clean Energy Fund as at the close of business on February 2, 2011 by (ii) the net asset value per unit of the corresponding class of Utility Plus Fund as at the close of business on February 2, 2011.

For more information, please contact Criterion at 416-642-5998 or 1-888-642-5998 or visit www.criterioninvestments.com.