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RIDGEWOOD CANADIAN INVESTMENT GRADE BOND FUND ANNOUNCES APPROVAL OF FUND EXTENSION

TORONTO July 25, 2013 – Ridgewood Capital Asset Management Inc., the manager of
Ridgewood Canadian Investment Grade Bond Fund (TSX: RIB.UN) (the "Fund"), is pleased to
announce that holders of the Fund's units ("Unitholders") have approved, at a special meeting
held today (the "Meeting"), a proposal to amend the Fund's declaration of trust to extend the
term of the Fund from December 31, 2014 until December 31, 2019 (the "Extension").

The Extension was approved by 99.97% of the Unitholders represented in person or by proxy at the Meeting. Unitholders holding 3,274,792 units of the Fund (representing approximately 51 % of the issued and outstanding units of the Fund) were represented at the Meeting in person or by proxy.

Additional information concerning the Extension is available in the Fund's management information circular dated July 25, 2013.

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

Certain statements in this press release may be viewed as forward-looking statements. Any statements that express or involve discussions with respect to expectations, plans, intentions, or future events are not statements of historical fact and may be forward-looking statements. Statements which may constitute forward-looking statements relate to implementation of the Extension. Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements including as a result of changes in the general economic and political environment, changes in applicable legislation, and the performance of the Fund. Such forward-looking statements are only predictions; actual events or results may differ materially and the Fund does not undertake any obligation to update such statements.