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FOR IMMEDIATE RELEASE

TSX Symbol: RIB.UN

Ridgewood Canadian Investment Grade Bond Fund Declares Special Distribution of $0.10 per Unit

TORONTO (August 22, 2011) - Ridgewood Canadian Investment Grade Bond Fund is pleased to announce that a special cash distribution of $0.10 per Unit has been declared. The distribution is payable on September 7, 2011 to Unitholders of record at the close of business on September 1, 2011.

For more information please call John H. Simpson, CFA, Managing Director, Ridgewood Capital Asset Management Inc. at (416) 479-2751.