Crown Hill Dividend Fund - Unitholders Approve Material Changes to the Declaration of Trust



    PBK.UN

    TORONTO, Aug. 29 /CNW/ - Crown Hill Dividend Fund (the "Trust") announced
today that the Unitholders of the Trust have approved the following
resolution:

    
    1)  The Trustee is hereby authorized to amend the Declaration of Trust to
        grant to the Trustee the authority, without seeking Unitholder
        approval, to merge or otherwise combine or consolidate the Trust with
        one or more other trusts administered by the Trustee or an affiliate
        of the Trustee (each an "Affiliated Trust"), provided that the
        Affiliated Trust to be merged or otherwise combined or consolidated
        with the Trust meets the following Merger Criteria:

        a) the trusts being merged must have similar investment objectives as
           set forth in their respective declarations of trust, as determined
           in good faith by the Trustee in its sole discretion;
        b) the trust with which the Trust is merged must be an Affiliated
           Trust;
        c) the Trustee must have determined in good faith that there will be
           no increase in the management expense ratio borne by Unitholders
           of the Trust as a result of the merger;
        d) the merger of the trusts is completed on the basis of an exchange
           ratio determined with reference to the net asset value per unit of
           each trust; and
        e) the merger of the trusts must be capable of being accomplished on
           a tax-deferred "rollover" basis for Unitholders of the Trust.
    

    %SEDAR: 00020532E




For further information:

For further information: Crown Hill Capital Corporation, Tel: (416)
361-1212

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CROWN HILL DIVIDEND FUND

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