Middlefield Mutual Funds Limited rollover of MRF 2005 partnership assets

    TORONTO, March 9 /CNW/ - Middlefield Mutual Funds Limited (the "Mutual
Fund") announced today that, in connection with the planned dissolution of MRF
2005 Resource Limited Partnership ("MRF 2005" or the "Partnership", cusip:
553464108), it is proposing to transfer all of the assets of MRF 2005 to the
Growth Class of Middlefield Mutual Funds Limited in exchange for mutual fund
shares having the same aggregate net asset value as that of the Partnership.
The record date for the transfer is April 2, 2007. Appropriate elections under
applicable income tax legislation will be made to effect the transfer on a
tax-deferred basis.
    It is currently intended that MRF 2005 will be dissolved on or about May
15, 2007. Investors will then be able to redeem their Growth Class shares,
retain them for longer-term growth or switch tax-free into any of the other
Mutual Fund classes. Remaining invested in the Mutual Fund avoids incurring
the capital gains tax liability that arises upon redemption of the Mutual Fund
    There are nine asset classes within the Mutual Fund, providing
significant flexibility to suit numerous investment objectives including
safety of capital, income and growth. The Classes currently offered are
Short-Term Income, Income Plus, Income and Growth, Canadian Balanced, Index
Income, Growth, Resource, Equity Index and U.S. Equity.
    Investors should consult their advisors to determine the strategy that is
most suitable for them for the achievement of their own personal needs and
    The proposed transfer provides the partners of the Partnership with
liquidity and the ability to diversify their investments by participating in a
large, multi-class mutual fund. The Mutual Fund shareholders benefit from the
cost savings arising from the allocation of expenses to a larger number of

For further information:

For further information: visit our website at www.middlefield.com or
contact the undersigned: Nancy Tham, Senior Vice President, (416) 847-5349

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