Communiqués de presse

Montrusco Bolton Income & Growth Fund 'MBL.UN' Announces Special Unitholder Meetings

TORONTO, ONTARIO--(CCNMatthews - Jan. 22, 2007) - Montrusco Bolton Capital Management Inc., the Manager and Trustee of Montrusco Bolton Income & Growth Fund (TSX:MBL.UN)(the "Fund") announces that it will hold a special meeting of the unitholders of the Fund on March 6, 2007 to consider various proposals relating to the Fund. Unitholders of Record on January 30, 2007 will be entitled to receive notice of and vote at the meetings. If an adjourned meeting is required, it will be held on March 16, 2007.

At the meeting, unitholders will be asked to consider extraordinary resolutions approving the following amendments to the Fund's declaration of trust:

  1. Independent Review Committee: To permit the establishment of an independent review committee upon the terms as provided and permitted in National Instrument 81-107 of the Canadian Securities Administrators;
  2. Issuance of Additional Units: To permit the trustee of the Fund, in its sole discretion and without obtaining the approval of the unitholders, to issue units of the Fund at a price per unit that is less than the net asset value per unit at such time.
  3. Authority to Merge with Affiliated Funds: To grant the manager of the Fund the authority, without seeking unitholder approval, to merge or otherwise combine or consolidate the Fund with one or more other funds administered or managed by the manager or an affiliate of the manager of the Fund, provided that the fund or funds to be merged or otherwise combined or consolidated with the Fund meet certain criteria.
  4. Additional Redemption Right: To permit unitholders to switch to other investment vehicles sponsored or promoted by the manager or an affiliate of the manager of the Fund, to be offered to the public by prospectus, by adding a further redemption right at 100% of the net asset value per unit from time to time at the discretion of the manager of the Fund.
  5. Reduction in Quorum Size: To reduce the number of outstanding units required to be held by unitholders in order to constitute a quorum of unitholders at any meeting.
  6. Elimination of Termination Date: To remove the fixed termination date of the Fund, such that, should the amendment be approved, the Fund will not have a fixed duration.
  7. Termination of the Fund by the Manager: To permit the manager of the Fund, in its discretion, to terminate the Fund without approval of unitholders if, in its opinion, it is no longer economically practical to continue the Fund, or if it determines that it would be in the best interests of the unitholders to terminate the Fund.
  8. Allocation of Realized Capital Gains to Redeeming Unitholders: To permit the trustee or the manager of the Fund to designate as payable to redeeming unitholders capital gains realized by the Fund in connection with the disposition of securities required in order to fund the redemption.
  9. Payment of Management Fee in Units: To permit the management fee to be paid, at the option of the manager of the Fund and without unitholder approval, in either units or cash.
  10. Amendment to Investment Restrictions: To remove or amend certain investment restrictions which no longer apply due to changes in applicable legislation.
  11. Other Business: To transact such further and other business as may properly come before the Meeting or any adjournment(s) thereof.

Details of the proposals will be outlined in a management information circular to be prepared and delivered to unitholders in connection with the meeting. The management information circular will be mailed shortly following the record date and will be available at that time on www.sedar.com. All amendments to the declaration of trust remain subject to receipt of all necessary regulatory approvals, including consent of the Toronto Stock Exchange.

For further information, please call Rob MacNiven, Investor Relations, First Asset Funds Inc. at 416-642-1289 or 1-877-642-1289 or visit www.firstassetfunds.com.