Creststreet Dividend & Income Fund Declares Monthly Distribution

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES./

TORONTO, May 30, 2011 /CNW/ - Creststreet Dividend & Income Fund (the "Fund"), a class of Creststreet Mutual Funds Limited, is pleased to announce that a distribution in the amount of $0.034 per share will be paid on May 31, 2011 to shareholders of record at the close of business on May 30, 2011. This is a monthly declaration of a distribution for the Fund and will be taxed as a capital gain in the hands of the investor.

The Fund's objective is to provide a high level of stable investment returns through a combination of interest, dividends and capital gains while emphasizing capital preservation. The Fund invests a diversified portfolio of equity and fixed income securities of primarily Canadian issuers which will include income trusts including one or more of business income trusts, convertible debentures of trusts, oil and gas trusts and real estate investment trusts. The Fund will employ a value-based approach to investing with an emphasis on long-term value. This involves direct assessments and detailed analysis on a company basis of management, its industry, business and asset strengths, weaknesses and exposures. Greater emphasis will be placed on valuation criteria applicable to both corporations and trusts such as EBITDA multiples, cash flow multiples, net asset values and other industry specific measures. In addition, security specific factors such as cash-on-cash yields and stability ratings will be included. Assessments of the company's or trust's industry position, balance sheet strength, future growth potential, its ability to execute successful acquisitions and its access to capital are also key components.  The fundcodes for the Fund are CAM300, CAM301 and CAM302.

Tax Deferred Switching between Fund Classes
Creststreet Mutual Funds Limited offers three fund classes; the Creststreet Resource Fund, the Creststreet Alternative Energy Fund and the Creststreet Dividend & Income Fund. Investors can switch shares from one Fund to another on a tax-deferred "rollover" basis where the event will not result in a capital gain or loss and the adjusted cost base of the shares of the new Fund acquired on the switch will be equal to the adjusted cost base of the shares switched from the former Fund.

About Creststreet
Creststreet is an investment management firm that was founded on the premise that commodities are an increasingly scarce resource that will increase in value over time, providing attractive long-term investment opportunities. Since its inception in 2000, Creststreet has raised over $1 billion for resource investments. The firm specializes in structuring and managing high quality core and specialty investment products for Canadian and international institutional and high net worth investors.

For further information:

Kevin Wood
Senior Vice President, Sales & Marketing
Direct: 416-864-3117
Toll free: 1-866-864-6330 x3117
Email: kwood@creststreet.com