YIELDPLUS Income Fund completes merger of funds and increases annual distribution rate to $1.20 per unit



    TORONTO, Sept. 27 /CNW/ - Middlefield Group is pleased to announce the
successful completion, effective September 27, 2007 (the "Effective Date"), of
the previously announced merger of YIELDPLUS Income Fund, Core IncomePlus
Fund, MAXIN Income Fund, PATHFINDER Income Fund and MG Dividend & Income Fund
(collectively, the "Funds") with YIELDPLUS being the continuing fund.
    As of the Effective Date, the combined total assets of the continuing
fund are approximately $500 million.
    YIELDPLUS has increased its monthly distribution rate from $0.08 per unit
to $0.10 per unit. The first monthly distribution of $0.10 per unit will be
payable on October 15, 2007 to unitholders of record on September 30, 2007.
The new distribution amount equates to an annual rate of $1.20 per unit, which
is the continuing fund's target distribution rate for the following 12 months.
Based upon the exchange ratios, unitholders of terminating funds will receive
distributions substantially equal to, and in most cases greater than, the
distributions that they currently receive.
    The merger was effected on a tax-deferred "rollover" basis at an exchange
ratio calculated as the net asset value ("NAV") per unit of each Fund divided
by the NAV per unit of the continuing fund, each determined as at the close of
trading on the Toronto Stock Exchange (the "TSX") on September 26, 2007. The
table below provides the respective exchange ratios and NAVs for each of the
Funds. The exchange ratios are based on the relative NAVs, on an unrounded
basis.

    
           ---------------------------------------------------
                               Exchange Ratio            NAV
           ---------------------------------------------------
            YIELDPLUS            1.00000000            $12.06
           ---------------------------------------------------
            CORE                 0.75597249            $ 9.12
           ---------------------------------------------------
            MAXIN                1.20015552            $14.48
           ---------------------------------------------------
            PATHFINDER           1.19618902            $14.43
           ---------------------------------------------------
            MG                   0.64565196            $ 7.79
           ---------------------------------------------------
    

    Unitholders of the terminating funds are not required to take any action
in order to be recognized as a unitholder of YIELDPLUS and to be in a position
to trade units of YIELDPLUS on the TSX. Former unitholders of the four
terminating funds who wish to participate in the distribution reinvestment
plan of YIELDPLUS will need to enroll in the YIELDPLUS DRIP.
    Unitholders of YIELDPLUS are not required to take any action as they will
automatically continue as unitholders of the continuing fund with each unit of
YIELDPLUS equal to one unit of the continuing fund.
    The units of YIELDPLUS trade on the Toronto Stock Exchange under the
symbol YP.UN.

    This press release may contain forward-looking information, including
statements regarding fund assets resulting from the merger. These
forward-looking statements are subject to various risks and uncertainties that
could cause estimates to differ materially from the expectations expressed.
The forward-looking information contained in this press release constitutes
each fund's current estimate, as of the date of this press release, with
respect to the matters covered hereby. Investors and others should not assume
that any forward-looking statement contained in this press release represents
each fund's estimate as of any date other than the date of this press release.





For further information:

For further information: visit our website at www.middlefield.com or
Nancy Tham, Senior Vice-President, (416) 847-5349, or toll-free at
1-888-890-1868

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YIELDPLUS Income Fund

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