Northwater Five-Year Market-Neutral Trust - Declaration of Distribution - September 30, 2008



    TORONTO, Sept. 19 /CNW/ - The Northwater Five-Year Market-Neutral Trust
announced today that it has declared a regular quarterly distribution to be
payable to unitholders of record on September 30, 2008 in the amount of
$0.4375. This distribution is expected to be paid on October 15, 2008.

    The Northwater Five-Year Market-Neutral Trust is a well-diversified fund
of market-neutral hedge funds and a fixed Canadian interest rate exposure.
Units are listed on The Toronto Stock Exchange under the symbol NYF.UN.





For further information:

For further information: Mohamed Khaki or Stephen Foote at Northwater
Capital Management Inc. at (416) 360-5435

Organization Profile

NORTHWATER FIVE-YEAR MARKET-NEUTRAL TRUST

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