Ridgewood Capital Asset Management Inc. closes acquisition of institutional and wealth management businesses from Mulvihill Capital Management Inc.

    TORONTO, Sept. 3 /CNW/ - Ridgewood Capital Asset Management Inc.
("Ridgewood") is pleased to announce that it has completed the acquisition of
the institutional and wealth management division of Mulvihill Capital
Management Inc. ("Mulvihill"). The acquisition closed on September 1, 2008 and
was completed further to an agreement entered into on July 2, 2008.
    In connection with the closing, Ridgewood has replaced Mulvihill Fund
Services Inc. as the manager and the trustee of the mutual funds set out below
(each a "Fund"). Each Fund has also been re-named by Ridgewood as indicated.

                    Fund                             New Name
    Mulvihill Canadian Money Market Fund Ridgewood Canadian Money Market Fund
    Mulvihill Canadian Bond Fund         Ridgewood Canadian Bond Fund
    Mulvihill Global Equity Fund         Ridgewood Global Equity Fund
    Mulvihill Total Return Fund          Ridgewood Total Return Fund

    In addition, Ridgewood is now the primary investment advisor of each
Fund, other than Ridgewood Total Return Fund, for which Mulvihill will
continue to act as the primary investment advisor. The individuals that were
principally responsible for the day-to-day management of the portfolio of each
Fund will remain the same.

    Ridgewood is a newly-formed corporation controlled by John H. Simpson and
Paul Meyer. Ridgewood will provide investment counseling and portfolio
management services. Mulvihill, which will now focus its activities on its
money management and structured products business, holds a minority interest
in Ridgewood.

For further information:

For further information: John Mulvihill C.F.A., Mulvihill Capital
Management Inc., (416) 681-3910; John H. Simpson C.F.A., Ridgewood Capital
Asset Management Inc., (416) 681-3960

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