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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 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 November 15, 2010 to Unitholders of record at
the close of business on October 29, 2010.

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