Uranium Focused Energy Fund - Rights Offering

TORONTO, Sept. 18 /CNW/ - Uranium Focused Energy Fund (the "Fund") is pleased to announce that it has filed a final prospectus in connection with an offering of Rights to its unitholders to subscribe for Units (the "Rights Offering"). Unitholders of record at the close of business (Toronto time) on September 29, 2009 will receive one Right for each Unit held on the record date. The Rights will commence trading on the Toronto Stock Exchange under the symbol UF.RT on September 25, 2009. Two Rights will entitle the holder to purchase one Unit at a price of $3.00 until 4:00 p.m. (Toronto time) on October 23, 2009, at which time all unexercised Rights will expire with closing of exercised Rights to occur shortly thereafter. If all the Rights are exercised, the Fund will issue approximately 8.5 million Units and receive net proceeds of approximately $24.7 million. The subscription price of $3.00 represents a discount to the closing market price as at September 16, 2009 of approximately 10%.

Each holder of Rights who subscribes for Units under the Basic Rights Subscription Privilege may subscribe for any number of additional Units, if available, at a price equal to the subscription price for each additional Unit, subject to availability. The directors and officers of the Manager who own Units intend to exercise all of their Rights to acquire Units under the Basic Rights Subscription Privilege.

Uranium Focused Energy Fund is a TSX-listed fund focused predominantly on the securities of issuers that operate in or have exposure to the uranium sector, supplemented with securities of other energy related issuers. The Fund has been designed to capitalize on the view of the Advisor, Middlefield Capital Corporation, that the uranium sector will continue to provide attractive opportunities for investment over the next several years. The strong fundamentals underlying the uranium industry include rising demand for nuclear power on the back of concerns over carbon emissions from coal-based power generation as well as the high cost of alternative fuels.

Middlefield is an investment fund manager with approximately $3 billion in assets under management. Since its inception in 1979, Middlefield has established a strong reputation as a creator and manager of unique investment products designed to balance risk and return to meet the demanding requirements of investment advisors and their clients. Middlefield has developed particular expertise in the oil and gas, mining and uranium sectors.

The Fund Units trade on the Toronto Stock Exchange under the symbol UF.UN.

Certain statements in this press release may constitute forward-looking information, including statements regarding the size of the Rights Offering and the outlook for the uranium industry. Forward-looking statements are subject to various risks and uncertainties that could cause estimates to differ materially from the expectations expressed. The forward-looking information contained in this press release constitutes the Fund's current estimate, as of the date of this press release, with respect to the matters covered hereby. Investors and others should not assume that any forward-looking statement contained in this press release represents the Fund's estimate as of any date other than the date of this press release.


For further information: For further information: or to obtain a copy of the prospectus, please visit our website at www.middlefield.com or contact Nancy Tham, Senior Vice-President, at (416) 847-5349 or toll-free at 1-888-890-1868

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