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FOR IMMEDIATE RELEASE

TSX Symbol: RIB.UN

Ridgewood Canadian Investment Grade Bond Fund Declares Monthly Distribution for July of $0.0525 per Unit

TORONTO (July 15, 2010) – Ridgewood Canadian Investment Grade Bond Fund is pleased to
announce that a cash distribution of $0.0525 per unit has been declared. The monthly
distribution equates to an annualized distribution rate of 5.25% on an initial subscription price of
$12.00 per unit. The distribution is payable on August 15, 2010 to Unitholders of record at the
close of business on July 30, 2010.

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