Citadel Funds Highlights Key Attributes of its Reorganization Proposal for
the November 17 Special Meetings

Reorganization Proposal Reflects Unitholders' Wishes

TORONTO, Oct. 28 /CNW/ - Citadel Fund Administrator (the "Administrator") highlighted certain details of the Reorganization Proposal to be voted on at its upcoming Special Meetings of Unitholders (the "Meetings") on November 17, 2009.

The Meetings seek unitholder approval to merge Citadel HYTES Fund (CHF.UN, TSX), Citadel Premium Income Fund (CPF.UN, TSX), Citadel S-1 Income Trust Fund (SDL.UN, TSX), Citadel SMaRT Fund (CRT.UN, TSX), and Citadel Stable S-1 Income Fund (CSR.UN, TSX) (collectively the "Citadel Funds") with Equal Weight Plus Fund (EQW.UN, TSX) and the Crown Hill Fund (MYT.UN, TSX) into a continuing fund that will be renamed the Citadel Income Fund.

"The upcoming uncontested Special Meetings are being held for the benefit of our unitholders, as they will give them the opportunity to make a clear choice about their investments in Citadel Funds," said Mr. Wayne Pushka, President and Chief Executive Officer of Citadel Fund Administrator. "In fact, we have already made some progress in responding to unitholders' wishes by formally appointing Jarislowsky, Fraser Limited as the investment manager for most of the Citadel Funds earlier this month."

The Reorganization Proposal has many value-maximizing features, including:

    
    -   Jarislowsky, Fraser as the Investment Manager;
    -   special redemption privileges;
    -   lower expenses;
    -   a broader investment mandate;
    -   continued high-level of distributions;
    -   greater liquidity;
    -   the issuance of warrants; and
    -   improved governance features
    

Provided that the Reorganization Proposal is approved, unitholders of each of the Citadel Funds will have an unlimited special redemption right this year and next year and a limited annual redemption right in subsequent years.

The board of directors of the Administrator unanimously recommends that unitholders vote FOR the Reorganization Proposal. The proposal to merge the Citadel Funds has also been mutually agreed upon by the Administrator and the parties who previously contested it, namely Bloom Investment Counsel Inc., Brompton Administration Limited and Brompton Funds Management Limited (collectively "Blue Ribbon").

For more information on the benefits of the Reorganization Proposal, unitholders are encouraged to read the Joint Management Information Circular that is also available on the dedicated website at www.CitadelMeeting.com.

    
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    Voting Instructions for Beneficial Unitholders

    Unitholders are urged to vote their proxies before Friday, November 13,
    2009 at 9:00 a.m. (Toronto time).

    Canadian Unitholders:

    Visit www.proxyvote.com and enter your 12 digit control number or call
    1-800-474-7493 or fax your proxy to (905) 507-7793 or toll free at
    1-866-623-5305 in order to ensure that it is received before the
    deadline.

    U.S. Unitholders:

    Visit www.proxyvote.com and enter your 12 digit control number or call
    1-800-454-8683.
    If you need assistance in casting your vote, please contact Kingsdale
    Shareholder Services Inc. at:Telephone Toll Free: 1-888-518-6828
    Outside North America Call Collect: 1-416-867-2272
    Local Fax: 416-867-2271 / Toll Free Fax: 1-866-545-5580

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Forward Looking Statements

This release contains forward-looking statements. These statements are based on certain factors and assumptions including, results of operations, performance and effective income tax rates. While the Funds and Citadel Fund Administrator consider these factors and assumptions to be reasonable based on information currently available, they may prove to be incorrect. Several factors could cause actual results to differ materially from those in the forward-looking statements, including, but not limited to: the timing of and the ability to carry out the Reorganization, including the mergers and fluctuations in the net asset value. Forward-looking statements are given only as at the date of this release and the Funds and Citadel Fund Administrator disclaims any obligation to update or revise the forward looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.

%SEDAR: 00008062E

SOURCE CITADEL HYTES FUND

For further information: For further information: Unitholder and Advisors Contact: Citadel Funds Administrator, Email: investorrelations@citadelfunds.com, Phone: 1-877-261-9674; Media Contact: Camilla Bartosiewicz, Kingsdale Communications Inc., Email: camilla@kingsdalecommunications.com, Phone: (416) 867-2316

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CITADEL HYTES FUND

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