Creststreet Mutual Funds Limited Pays Annual Capital Gain Dividend


    TORONTO, March 7 /CNW/ - Creststreet Mutual Funds Limited (the "Mutual
Fund") today declared a capital gain dividend payable to all shareholders of
record on February 29, 2008, payable March 7, 2008. The capital gain dividend
will be automatically reinvested in additional shares, unless otherwise
requested by the shareholder, and will be pro-rated amongst the various
classes of the Mutual Fund as follows:

    Resource Fund - Series A shares         $0.9175 per share
    Resource Fund - Series 2008 shares      $0.9175 per share
    Managed Income Fund shares              $0.2704 per share
    Managed Equity Index Fund shares        $1.0253 per share
    Alternative Energy Fund shares          $2.1686 per share

    It is important to note that, due to the re-investment of the capital
gain dividend in additional shares, the total value of a shareholder's
investment has not changed as a result of this dividend.
    For tax planning purposes, this distribution will be taxable as a 100%
capital gain dividend. The distribution will adjust shareholders' adjusted
cost base ("ACB") upwards accordingly. Updated ACB information will be
available at after March 14, 2008.

    Creststreet Mutual Funds Limited is a multi-class, open-end mutual fund
managed by Creststreet Asset Management Limited. The Fund offers four fund
classes: Creststreet Resource Fund for investors who are seeking exposure to
the Canadian resource sector; Creststreet Managed Income Fund for investors
who are seeking stable monthly cash distributions with a focus on capital
preservation; Creststreet Managed Equity Index Fund for investors who are
seeking long-term growth of capital through investment in a portfolio of
equity market index units; and Creststreet Alternative Energy Fund for
investors who are seeking long-term growth of capital while conservatively
managing value at risk. Investors in the Funds can switch between fund classes
on a tax-deferred basis.

    About Creststreet

    Creststreet is an investment management firm specializing in structuring
and managing high-quality energy focused investment products for Canadian and
international institutional and high-net worth investors. Since its inception
in 2000, Creststreet has raised over $970 million for investment in resource
and renewable energy companies.

For further information:

For further information: Grant Bunker, Vice-President, Business
Development, Creststreet Capital Corporation, (416) 628-2161,

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Creststreet Mutual Funds Limited

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