Report of Voting Results of Special Meetings of Unitholders

TORONTO, Nov. 17 /CNW/ - Citadel Fund Administrator (the "Administrator") today announced the results of the special meetings of Unitholders of the following funds held on November 17, 2009:

    
    -   Citadel Diversified Investment Trust: CTD.UN, TSX
    -   Series S-1 Income Fund: SRC.UN, TSX

    (the "Funds")
    

The Reorganization Resolution and Merger Resolution were approved by Unitholders of the Funds.

The Reorganization Resolution approves the reorganization of the Funds and the Merger Resolution approves the merger of the Funds to continue as the Blue Ribbon Income Fund, as described in the Joint Management Information Circular of the Funds dated October 21, 2009 (the "Circular"), and as set out in Appendix A to the Circular. The Reorganization Resolution and the Merger Resolution required approval by 75% of the votes cast for a Fund.

The full voting result for the resolutions considered at the Meetings are set out below:

    
    Reorganization Resolution

    -------------------------------------------------------------------------
    Fund                                    Votes in Favour   Votes Against
    -------------------------------------------------------------------------
    Citadel Diversified Investment Trust        94.89%            5.11%
    -------------------------------------------------------------------------
    Series S-1 Income Fund                      98.72%            1.28%
    -------------------------------------------------------------------------


    Merger Resolution

    -------------------------------------------------------------------------
    Fund                                    Votes in Favour   Votes Against
    -------------------------------------------------------------------------
    Citadel Diversified Investment Trust        94.63%            5.37%
    -------------------------------------------------------------------------
    Series S-1 Income Fund                      97.20%            2.80%
    -------------------------------------------------------------------------
    

SOURCE CITADEL GROUP OF FUNDS

For further information: For further information: Investor Relations, Citadel Funds, (416) 361-9673 or (877) 261-9674, investorrelations@citadelfunds.com; For information about Blue Ribbon Fund Management Ltd. and the resolutions before the Blue Ribbon Funds at the special meetings, contact: Mark Caranci - (416) 642-6004; Lorne Zeiler - (416) 642-9058; David Roode - (416) 642-6008; Chris Cullen - (416) 642-9064 or Toll-free: 1-866-642-6001, info@bromptongroup.com

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CITADEL GROUP OF FUNDS

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