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FOR IMMEDIATE RELEASE

Ridgewood Canadian Investment Grade Bond Fund Announces 2014 Year-End Distribution

TORONTO (January 6, 2015) - Ridgewood Canadian Investment Grade Bond Fund (the "Fund") has declared a special year-end distribution in respect of its 2014 tax year (the "Special Distribution"). The Special Distribution is payable to unitholders of record at the close of business on December 31, 2014 in the amount of $0.403322 per unit, for an aggregate amount of $3,175,284.85.

The Special Distribution will be comprised of $0.393740 per unit on account of the Fund"s net realized capital gains for 2014 and $0.009582 per unit on account of the Fund"s net income for 2014, which in each case were not previously distributed.

The capital gains portion of the Special Distribution will be paid by issuing additional units of the Fund, followed immediately by a consolidation of the numbers of units of the Fund such that each unitholder of record holds after the consolidation the same number of units held before the Special Distribution. The income portion of the Special Distribution will be paid in cash.

The amount of the capital gains portion of the Special Distribution should be added to the adjusted cost base of such unitholder"s units of the Fund as of December 31, 2014.

About Ridgewood Canadian Investment Grade Bond Fund:

The Fund will seek to achieve the following investment objectives: (i) to provide unitholders with monthly cash distributions targeted to be 5.3% per annum on the original issue price of $12.00 per unit; and (ii) to maximize total returns for unitholders while preserving capital in the long term.

About Ridgewood Capital Asset Management Inc.:

Ridgewood Capital Asset Management Inc. is an independent investment manager that manages approximately $1.1 billion in assets for a diversified client base of high net worth individuals, foundations/endowments, First Nation mandates and institutional accounts, of which approximately $650 million is invested in fixed income assets.

For further information regarding the Fund, please visit the Ridgewood Capital Asset Management Inc. website at www.ridgewoodcapital.ca or contact John H. Simpson, CFA, Managing Director, at 416 479-2751.

This press release contains forward-looking information. The forward-looking information contained in this press release is based on historical information concerning the income generated by the portfolio of the Fund. Actual future results, including the amount of distributions paid by the Fund, may differ from the estimated monthly distribution amount. Specifically, the income from which distributions are paid may vary significantly due to: changes in portfolio composition; changes in income received from securities included in the Fund"s portfolio from time to time; general economic and stock market conditions including changes in interest rates; and the level of borrowing by the Fund. The risks, uncertainties and other factors that could influence actual results are described under "Risk Factors" in the Fund"s prospectus dated December 8, 2011 and other documents filed by the Fund with the Canadian securities regulatory authorities. 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.