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FOR IMMEDIATE RELEASE

TSX Symbol: RIB.UN

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

TORONTO (June 14, 2010) – Ridgewood Canadian Investment Grade Bond Fund is pleased to
announce that a cash distribution of $0.0525 per unit has been declared in accordance with our
quarterly announcement on March 31, 2010. 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 July 15, 2010 to Unitholders of record at the close of business on June 30, 2010.

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