Northwater Market-Neutral Trust - Tax character of distributions for 2009

TORONTO , Jan. 25 /CNW/ - The Northwater Market Neutral Trust (the "Trust") announces that it has determined the tax character of distributions issued by the Trust for its taxation period ended December 31, 2009 .

The tax character of the distributions for 2009 is as follows:

    
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                                                                  Amount
    Record Date          Payment Date       Tax Character         per Unit
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    March 31, 2009       April 29, 2009     Return of Capital     $0.1500
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    June 30, 2009        July 29, 2009      Return of Capital     $3.2900
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    September 30, 2009   October 29, 2009   Return of Capital     $0.0800
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    December 31, 2009    January 29, 2010   Return of Capital     $0.0800
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For further information: Dan Mills, at Northwater Capital Management Inc. at [phone]