Creststreet Completes Rollover of Creststreet 2007 Limited Partnership into
Creststreet Energy Opportunities Fund


TORONTO, June 1 /CNW/ - Creststreet Asset Management Limited today announced that on May 31, 2010, the rollover of Creststreet 2007 Limited Partnership, CUSIP No.22629N-10-4, ("Creststreet 2007LP") into Creststreet Energy Opportunities Class Shares (the "Creststreet Energy Opp Fund") of Creststreet Opportunities Fund Inc. (the "Mutual Fund") was completed. This was the second and final transfer of assets from the Creststreet 2007LP to the Creststreet Energy Opp Fund The assets of Creststreet 2007LP were exchanged on a tax-deferred basis for Creststreet Energy Opp Fund - 2010 Series shares (the "Shares") (Fund Code: CAM904) of equal value. Immediately after the rollover on May 31 2010, Creststreet 2007LP was dissolved. Limited Partners of the Creststreet 2007LP received 0.08974819212 Shares for each Creststreet 2007LP unit held. The Net Asset Value per unit of the Creststreet 2007LP at the time of the rollover was $1.5440. The Net Asset Value per share of Creststreet Energy Opp Fund at the time of rollover was $17.2024. The adjusted cost base for tax purposes was retained from the Creststreet 2007LP and is $0.6003 per Share of the Energy Opp Fund.

The Shares will be redeemable and exchangeable beginning June 30, 2010. This is earlier than the date previously set by the Mutual Fund for redemption of Shares. The Mutual Fund does not charge redemption fees. Creststreet Energy Opp Fund shares are RRSP/RRIF/TFSA eligible.

About Creststreet Energy Opportunities Fund

The Creststreet Energy Opportunities Fund is managed and advised by Creststreet Asset Management Limited. The investment objective of the Fund is to provide its shareholders with long term capital growth through fundamental securities selection by taking both long and short investment positions in equity, debt and derivative securities and through strategic investment decisions. The Fund's portfolio consists primarily of securities of issuers engaged in the global energy sector. The Fund has no geographic, asset class or market capitalization restrictions. The Fund is not a reporting issuer. Creststreet Opportunities Fund Inc. is RRSP/RRIF/TFSA eligible.

To track the NAV and performance, and for further information on Creststreet's Funds, please visit our website at

About Creststreet

Creststreet is an investment management firm that was founded on the premise that energy is an increasingly scarce commodity which will increase in value over time, providing attractive long-term investment opportunities. Since its inception in 2000, Creststreet has raised over $1 billion for energy investments. The firm specializes in structuring and managing high quality energy focused long only, long/short and tax-assisted investment products for Canadian and international institutional and high net worth investors.


For further information: For further information: Sheryl Chiddenton, Vice President, Compliance and Investment Services, Creststreet Asset Management Limited, Tel: (416) 864-3125, Toll Free: 1-866-864-6330, E-mail:

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