Press Release from Caldwell Investment Management Ltd.

Re: Clarification of Management Information Circular Dated May 11th , 2012 : Unitholder Vote for the Caldwell Mutual Funds

TORONTO, June 11, 2012 /CNW/ - In the management information circular dated May 11th, 2012 (the "Management Information Circular"), the statement is made that the Investment Objective of the Caldwell Meisels Canada Fund is "substantially similar" to that of the Caldwell High Income Equity Fund and that the Investment Objective of the Caldwell Global Financial Services Fund is "substantially similar" to that of the Caldwell Balanced Fund.

While there are similarities between the Investment Objectives of each of the respective pairs of mutual funds, there are also differences which make the Investment Objectives not substantially similar of which investors should be aware. Management directs unitholders to pages 4 and 5 of the Management Information Circular to understand these differences.

SOURCE Caldwell Mutual Funds

For further information:

Investors having further questions should contact their Investment Advisors or Caldwell Mutual Funds at 416-593-1798.

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Caldwell Mutual Funds

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Caldwell Investment Management Ltd.

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