Equal Sector announces normal course issuer bid

    TORONTO, Nov. 9 /CNW/ - Middlefield Equal Sector Income Fund announced
today its intention to make a normal course issuer bid for its units through
the facilities of the Toronto Stock Exchange (the "TSX"). This normal course
issuer bid is intended to commence on November 13, 2007 and will terminate on
November 12, 2008. In accordance with the Declaration of Trust by which EQUAL
SECTOR is governed, market purchases pursuant to its normal course issuer bid
may be effected by the Fund.
    The Fund had 2,609,488 units issued and outstanding as at November 2,
2007. EQUAL SECTOR may, during the 12 month period commencing November 13,
2007 purchase on the TSX up to 260,352 units, being 10% of the public float of
2,603,527 units and may not, in any 30 day period, purchase more than 52,189
units, being 2% of the units issued and outstanding. As at November 2, 2007
EQUAL SECTOR had purchased 217,900 units at an average price of $9.42 per unit
under its previously approved normal course issuer bid. EQUAL SECTOR believes
that its units represent good value for the Fund and purchases under the
normal course issuer bid may serve to enhance returns to unitholders.

    Middlefield Equal Sector Income Fund trades on the Toronto Stock Exchange
under the symbol "ESF.UN".

    For further information visit our website at www.middlefield.com.

For further information:

For further information: Nancy Tham, Senior Vice President, (416)

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