Distributions

Distributions to Unitholders

The Fund distributes a portion of its cash flow after adjusting for any amounts that the Trustees may reasonably consider to be necessary to provide for the payment of any costs or expenses, including any tax liability of the Fund, that have been or are reasonably expected to be incurred in the activities and operations of the Fund (to the extent that such costs or expenses have not otherwise been taken into account in the calculation of the cash flow of the Fund) and for reasonable reserves.

The cash flow of the Fund is computed as the sum of all cash amounts received by the fund in or in respect of such Distribution Period, including all income, interest, distributions, dividends, proceeds from the disposition of securities, returns of capital and repayments of indebtedness, as well as all amounts received by the Fund in any prior Distribution Period to the extent not previously distributed adjusted by a) all costs and expenses of the Fund that, in the opinion of the Trustees, may reasonably be considered to have accrued and become owing in respect of, or which relate to, such Distribution Period or a prior Distribution Period if not accrued in such prior period; (b) all amounts payable in cash that relate to the redemption or repurchase of Units and that have become payable by the Fund in such Distribution Period; (c) any interest expense incurred by the Fund between distributions; and (d) all amounts that relate to the repayment of the principal amount of any indebtedness of the Fund during such Distribution Period (net of any such amounts that have been refinanced during such Distribution Period). Distribution Period means each calendar month from and including the first day thereof and to and including the last day thereof.

Monthly distributions are to be paid to Unitholders of record on the last Business Day of each calendar month or such other date as may be determined from time to time by the Trustees (provided that December 31 in each calendar year shall be a distribution record date) and are to be paid generally on the 20th day of the following month (or if that day is not a Business Day, on the next following Business Day or such earlier date determined from time to time by the Trustees).

On March 17, 2008 the Fund announced that the monthly cash distribution of $0.10 per unit ($1.20 per unit on an annualized basis) will be restructured into distributions consisting of $0.05 per unit in cash and an “in-kind” distribution of $0.05 per unit in equity, to be settled with additional units issued to unitholders, subject to regulatory approval. In-kind units will be issued at a deemed price equal to the volume-weighted average price of all units traded on the Toronto Stock Exchange on the 10 trading days preceding the applicable record date. Unitholders will receive cash in lieu of the issuance of fractional units.

On August 12, 2008 the Fund announced a suspension of monthly distributions, beginning with the month ended
August 31, 2008.

The following table sets forth the per Unit amount of monthly cash distributions declared and paid by the Fund for 2008:

Period Record Date Payment Date $ Per Unit $ Per Unit $ Per Unit
      in Cash in Equity Volume Weighted
          Average Price
Jul 2008

Jul 31, 2008

 Aug 20, 2008 0.05 0.05 4.940890
Jun 2008 Jun 30, 2008 Jul 18, 2008 0.05 0.05 5.397737
May 2008 May 30, 2008 Jun 20, 2008 0.05 0.05 5.765170
Apr 2008 Apr 30, 2008 May 20, 2008 0.05 0.05 6.007460
Mar 2008 Mar 31, 2008 Apl 21, 2008 0.05 0.05 5.462079
Feb 2008 Feb 29, 2008 Mar 20, 2008 0.10    
Jan 2008 Jan 31, 2008 Feb 20, 2008 0.10    

On March 14, 2007, the Fund announced that the monthly cash distributions to Unitholders will be decreased from $0.18 per unit to $0.10 per unit commencing with the distribution in respect of the month ended March 31, 2007.

From January 1, 2007 to December 31, 2007, the Fund made cash contributions to Unitholders totaling $1.36 per unit.

The following table sets forth the per Unit amount of monthly cash distributions declared and paid by the Fund for 2007:

Period Record Date Payment Date $ Per Unit
Dec 2007 Dec 31, 2007 Jan 18, 2008 0.10
Nov 2007 Nov 30, 2007 Dec 20, 20070.10
Oct 2007 Oct 31, 2007 Nov 20, 20070.10
Sep 2007 Sep 28, 2007 Oct 19, 20070.10
Aug 2007 Aug 31, 2007 Sep 20, 20070.10
Jul 2007 Jul 31, 2007 Aug 20, 20070.10
Jun 2007 Jun 29, 2007 Jul 20, 20070.10
May 2007May 31, 2007 Jun 20, 2007 0.10
Apr 2007 Apr 30, 2007 May 21, 20070.10
Mar 2007 Mar 30, 2007 Apr 20, 20070.10
Feb 2007 Feb 28, 2007 Mar 20, 2007 0.18
Jan 2007 Jan 31, 2007 Feb 20, 2007 0.18

From Janu 1, 2006 to December 31, 2006, the Fund made cash distributions to Unitholders totaling $2.00 per Unit. The following table sets forth the per Unit amount of monthly cash distributions declared and paid by the Fund for 2006:

Period Record Date Payment Date $ Per Unit
Dec 2006Dec 29, 2006Jan 19, 20070.18
Nov 2006Nov 30, 2006Dec 20, 20060.18
Oct 2006Oct 31, 2006Nov 20, 20060.18
Sep 2006Sept 29, 2006Oct 20, 20060.18
Aug 2006Aug 31, 2006Sep 20, 20060.17
Jul 2006Jul 31, 2006Aug 21, 20060.17
Jun 2006Jun 30, 2006Jul 20, 20060.17
May 2006May 31, 2006Jun 20, 20060.17
Apr 2006Apr 28, 2006May 19, 20060.15
Mar 2006Mar 31, 2006Apr 20, 20060.15
Feb 2006Feb 28, 2006Mar 20, 20060.15
Jan 2006Jan 31, 2006Feb 20, 20060.15

From May 6, 2005 to December 31, 2005, the Fund made cash distributions to Unitholders totaling $1.25 per Unit. The following table sets forth the per Unit amount of monthly cash distributions declared and paid by the Fund during 2005:

Period Record Date Payment Date $ Per Unit
Dec 2005 Dec 31, 2005 Jan 20,2006 0.15
Nov 2005 Nov 30, 2005 Dec 20, 2005 0.15
Special DistributionNov 30, 2005 Dec 20, 2005 0.05
Oct 2005Oct 31, 2005Nov 21, 20050.15
Sep 2005 Sep 30, 2005Oct 20, 20050.15
Aug 2005 Aug 31, 2005Sep 20, 20050.15
Jul 2005 Jul 29, 2005 Aug 19, 2005 0.15
Jun 2005 Jun 30, 2005 Jul 20, 2005 0.15
May 6, 2005 to
May 31, 2005		May 31, 2005 Jun 20, 2005 0.15