Marret Multi Strategy Income Fund announces normal course issuer bid

TSX SYMBOL: MMF.UN

TORONTO, Nov. 3, 2011 /CNW/ - Marret Multi Strategy Income Fund (the "Fund") announced today that the TSX has accepted the Fund's Notice of Intention to make a normal course issuer bid. The Fund will have the right to purchase under the bid up to a maximum of 1,475,835 Class A Units (representing 10% of the Fund's public float) commencing November 7, 2011. As at November 1, 2011 there were 14,758,351 Class A Units of the Fund issued and outstanding.

The purpose of the issuer bid is to enable the Fund to acquire Class A Units at prices which are less than the net asset value per Class A Unit at the time of purchase. Marret Asset Management Inc. (the "Manager"), the manager of the Fund, believes that the Class A Units may become available during the proposed purchase period at prices which are less than the net asset value per Class A Unit at the time of purchase. As a result, in such circumstances, the purchase of Class A Units pursuant to the Issuer Bid would be in the best interests of the Fund and its remaining unitholders. The Fund will not purchase any Class A Units hereunder if the price of such Class A Units would equal or exceed the net asset value per Class A Unit at such time.  The Fund may not purchase more than 295,167 units in any 30 day period, which is 2% of the outstanding securities as at the time of filing the notice with the TSX.

Purchases made pursuant to the normal course issuer bid will be made in the open market through the facilities of the TSX or any other relevant exchange. The normal course issuer bid will remain in effect until the earlier of November 6, 2012, the termination of the bid by the Fund or the Fund purchasing the maximum number of Class A Units permitted under the bid.

Subject to obtaining the necessary regulatory approvals, Class A Units purchased by the Fund pursuant to the issuer bid will be recirculated or, failing which, cancelled. To the knowledge of the Fund, no director, senior officer or other insider of the Fund intends to sell any Class A Units under this bid. However, sales by such persons through the facilities of the TSX or any other relevant exchange may occur if the circumstances or decisions of any such person change. The benefits to any such person whose Class A Units are purchased would be the same as the benefits available to all other holders whose Class A Units are purchased.

SOURCE Marret Multi-Strategy Income Fund

For further information:

Peter Rizakos (416) 640-4256 prizakos@marret.com or Marcus Spain at 416-306-3894 mspain@marret.com.

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Marret Multi-Strategy Income Fund

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