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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 (March 3, 2011) - Ridgewood Canadian Investment Grade Bond Fund is pleased to announce that a special cash distribution of $0.10 per unit (the "Special Distribution") has been declared.

The Special Distribution is payable on March 17, 2011 to Unitholders of record at the close of business on March 14, 2011.

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