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FOR IMMEDIATE RELEASE

TSX Symbol: RIB.UN

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

TORONTO (October 14, 2011) - 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 November 15, 2011 to Unitholders of record at the close of business on October 31, 2011.

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