AGF Master Limited Partnership

TORONTO, Dec. 17 /CNW/ - For the year ending December 31, 2009, an annual distribution of approximately $0.20 per unit has been estimated for AGF Master Limited Partnership (Symbol AFP.UN). The distribution will be payable on January 30, 2010 to limited partners of record on December 31, 2009.

THIS IS ONLY AN ESTIMATE BASED ON CURRENT MARKET CONDITIONS AND IS SUBJECT TO CHANGES BASED ON THE ACTUAL FINANCIAL RESULTS FOR THE LIMITED PARTNERSHIP.

For further information: Greg Henderson, Director, AGF Partners No. Five Limited, (General Partner of the Partnership), [phone]