INDEXPLUS Dividend Fund IPO Closes at $120,000,000

TORONTO, Feb. 18 /CNW/ - Middlefield Group, on behalf of INDEXPLUS Dividend Fund ("INDEXPLUS" or the "Fund"), is pleased to announce that the Fund has completed its initial public offering of 10,000,000 units at a price of $12.00 per unit for gross proceeds of $120,000,000

INDEXPLUS Dividend Fund is designed to provide investors with low-cost exposure to the Canadian equity income sector through a combination of indexing and active portfolio management. At least 50% and up to 80% of the Fund's assets will be invested in a diversified portfolio of securities which is designed to track, to the extent practicable, the newly created S&P®/TSX™ Equity Income Index and the remainder of the Fund's assets will be actively managed.

The Fund's investment objectives are to:

(i)   provide holders of Units with monthly cash distributions; and

(ii) outperform the S&P®/TSX™ Equity Income Index on a total return basis,

through an investment strategy which combines indexing and active portfolio management and entails investing primarily in Canadian dividend paying equity securities.

The initial target distribution yield is 6.5% per annum based on the original subscription price (or $0.065 per Unit per month or $0.78 per Unit per annum).

The offering was made through a syndicate of agents co-led by CIBC World Markets Inc. and RBC Capital Markets and including BMO Capital Markets, National Bank Financial Inc., Scotia Capital Inc., TD Securities Inc., GMP Securities L.P., Canaccord Genuity Corp., Dundee Securities Corporation, HSBC Securities (Canada) Inc., Raymond James Ltd., Macquarie Private Wealth Inc., Middlefield Capital Corporation and Wellington West Capital Markets Inc.

S&P and the TSX have not sponsored, endorsed, sold or promoted the Units or the Fund and neither S&P nor the TSX make any representation regarding the advisability of investing in Units of the Fund. S&P has no relationship to the Fund, but the manager of the Fund (or an affiliate thereof) has entered into an agreement with S&P relating to the licensing by the Fund of certain trademarks and trade names of S&P and the TSX.

SOURCE INDEXPLUS Dividend Fund

For further information:

please visit our website atwww.middlefield.comor contact Nancy Tham, Managing Director, Sales and Marketing, at 416.847.5349 or at 1.888.890.1868.

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INDEXPLUS Dividend Fund

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