Creststreet Completes Early Rollover of Creststreet 2009 Limited Partnership
into Creststreet Resource Fund

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES./

TORONTO, May 31 /CNW/ - Creststreet Asset Management Limited today announced that on May 28, 2010, the rollover of Creststreet 2009 Limited Partnership, CUSIP No. 226297-10-9, ("Creststreet 2009LP") into Creststreet Resource Class Shares (the "Creststreet Resource Fund") of Creststreet Mutual Funds Limited (the "Mutual Fund") was complete. The assets of Creststreet 2009LP were exchanged on a tax-deferred basis for Creststreet Resource Fund - 2010 Series shares (the "Shares") (Fund Code: CAM110) of equal value. Immediately after the rollover on May 28 2010, Creststreet 2008LP was dissolved. Limited Partners of the Creststreet 2009LP received 0.9612738246 Shares for each Creststreet 2009LP unit held. The Net Asset Value per unit of the Creststreet 2009LP at the time of the rollover was $3.6235. The Net Asset Value per share of Creststreet Resource Fund at the time of rollover was $3.7691. The adjusted cost base for tax purposes was retained from the Creststreet 2009LP and is $0.6003 per Share of the Resource Fund(1).

The Shares will be redeemable and exchangeable beginning May 28, 2010. This is earlier than the date previously set by the Mutual Fund for redemption of Shares, and was approved by the Creststreet 2009LP unitholders at a special meeting held on May 26, 2010. The Mutual Fund does not charge redemption fees. Creststreet offers two additional mutual fund classes Creststreet Alternative Energy Fund and Creststreet Managed Equity Index Fund, allowing investors to switch between fund classes to further diversify their investment on a tax-deferred basis. Creststreet Mutual Funds are also RRSP/RRIF/TFSA eligible.

About Creststreet Resource Fund

The Creststreet Resource Fund is a diversified natural resources fund that invests in a broad selection of energy, mining, metals and agricultural related equity securities. To track the performance of Creststreet Resource Fund and for further information on additional fund classes of Creststreet Mutual Funds, please visit our website www.creststreet.com, where we update Net Asset Values on a weekly basis.

About Creststreet

Creststreet is an investment management firm specializing in structuring and managing high-quality investment products for Canadian and international institutional and high-net worth investors. Since inception in 2000, Creststreet has raised over $1 billion for investment in resource and renewable energy sectors.

    
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    (1) The ACB per Share of the Resource Fund has been corrected to include
        the return of capital paid  in January 2010.
    

For further information: Sheryl Chiddenton, Vice President, Compliance and Investment Services, Creststreet Asset Management Limited, Tel: [phone], Toll Free: 1-866-864-6330, E-mail: [email protected]