T. Boone Pickens Energy Fund Files Preliminary Prospectus for Initial Public


TORONTO, Nov. 6 /CNW/ - T. Boone Pickens Energy Fund (the "Fund") is pleased to announce that it has filed and received a receipt for its preliminary prospectus from the securities regulatory authority in each province and territory of Canada.

The Fund has been created to provide investors with the opportunity for long-term capital growth by providing access to the energy-related investment strategies of TBP Investments Management, LLC (the "Portfolio Manager"). The Portfolio Manager and its management team are led by Mr. T. Boone Pickens, who as founder and a principal of the Portfolio Manager, brings more than 50 years of "hands on" experience in the oil and gas industry to the evaluation of potential energy investments and energy sector themes.

Mr. Pickens intends to acquire, directly or indirectly, 10% of the Units of the Fund, to a maximum of U.S.$10 million under the Offerings.

In the Fund's initial public offering, investors may purchase either Class A Combined Units or Class F Combined Units at a price of $10.00 per Combined Unit of the class, or Class U Combined Units at a price of U.S.$10.00 per Class U Combined Unit. Each Combined Unit consists of one transferable, redeemable Unit of the class and one transferable Warrant for one Unit of the class. The offerings are expected to close in mid-December 2009.

The Fund will seek to achieve its investment objective by investing the net proceeds of the offerings in an actively-managed portfolio consisting primarily of equities and commodity-related investments within the energy and energy-related sectors. Portfolio investments will include traditional or conventional energy sector investments but may also include alternative energy investments including non-traditional uses for natural gas and renewable energy that are consistent with energy themes and policies espoused by the Portfolio Manager. The Fund's portfolio will be managed with the goal of providing absolute returns in any market environment.

Prospective purchasers may purchase Combined Units either by: (i) a cash payment; or (ii) an exchange (the "Exchange Option") of freely-tradeable listed securities ("Exchange Eligible Securities") of certain energy-related issuers, including exchange-traded funds, listed on the Toronto Stock Exchange. To utilize the Exchange Option, a prospective purchaser must deposit Exchange Eligible Securities with the Fund's agent for the Exchange Option through CDS Clearing and Depository Services Inc. prior to 5:00 p.m. (Toronto time) on November 24, 2009.

Harris Investment Management, Inc. is the Fund's investment manager and has retained the Portfolio Manager to manage the Fund's Portfolio and implement the Fund's investment strategy. BMO Nesbitt Burns Inc. will act as the administrator of the Fund and will be responsible for its management and administration.

The offerings are being made through BMO Capital Markets.

For further information, please visit the Fund's website at www.bmocm.com/bmosp under "Closed-End Funds".

About BMO Capital Markets

BMO Capital Markets is a leading full-service North American financial services provider, with over 2,400 employees operating in 14 North American offices and 27 worldwide, offering corporate, institutional and government clients access to a complete range of investment and corporate banking products and services. BMO Capital Markets is a member of BMO Financial Group (NYSE, TSX: BMO), one of the largest diversified financial services providers in North America with US$385 billion total assets and 37,000 employees as at July 31, 2009.

This press release does not constitute an offer of these securities for sale in the United States, which securities may not be offered or sold in the United States absent registration or an exemption from registration.

A preliminary prospectus containing important information relating to the Combined Units, Units and Warrants has been filed with securities commissions or similar authorities in each province and territory of Canada. The preliminary prospectus is still subject to completion or amendment. Copies of the preliminary prospectus may be obtained from BMO Capital Markets, Distribution Department, 1 First Canadian Place, B2 Level, Toronto, Ontario, M5X 1H3 (tel: 416-363-6996 x224). There will not be any sale or any acceptance of an offer to buy the securities until a receipt for the final prospectus has been issued.


For further information: For further information: BMO Capital Markets: Kim Hanson (416) 867-3996, kim.hanson@bmo.com; Internet: www.bmocm.com/bmosp (Closed-End Funds)

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