Rollover of MRF 2008 Resource Limited Partnership assets

TORONTO, Feb. 24 /CNW/ - Middlefield Mutual Funds Limited (the "Mutual Fund") announced today that, in connection with the planned dissolution of MRF 2008 Resource Limited Partnership ("MRF 2008" or the "Partnership", cusip: 55347G100), it is proposing to transfer all of the assets of MRF 2008 to the Canadian 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 February 24, 2010 and the liquidity date is March 19, 2010. These dates have been accelerated from the dates disclosed in the MRF 2008 prospectus to enable those MRF 2008 investors who wish to invest in our MRF 2010 Resource Limited Partnership ("MRF 2010") to be able to do so. MRF 2010 will have its closing on March 31, 2010. 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 2008 will be dissolved on or about March 19, 2010. Investors will then be able to redeem their Canadian 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 shares.

There are nine available 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 Groppe Tactical Energy, Short-Term Income, Income Plus, Uranium Focused Metals, Canadian Balanced, Canadian Growth, Equity Index, Global Agriculture and Precious Metals. We are pleased to report that the Income Plus Class has received a 5-star rating from Globefund and Fundata's FundGrade A rating (December 31, 2009). In addition, over the three years ending January 31, 2010, Income Plus Class was the top performing fixed-income balanced fund in Canada. The transfer will provide the partners of the Partnership with liquidity and the ability to diversify their investments by participating in a large, multi-class mutual fund.

Investors should consult their advisors to determine the strategy that is most suitable for them for the achievement of their own personal needs and objectives.


For further information: For further information: visit our website at or contact the undersigned: Nancy Tham, Senior Vice President, (416) 847-5349, 1-888-890-1868

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