PRESS RELEASE

MINT ANNOUNCES INITIAL DISTRIBUTION

Middlefield High Income Trust ("MINT" or the "Fund") is pleased to announce that it will be making its first quarterly distribution of $0.13 per unit payable on July 21, 1997 to unitholders of record on June 30, 1997. The Fund is currently borrowing against the second instalment and the significant positive yield spread on this investing activity will enhance investor returns.

As previously announced, unitholders of MINT may reinvest this and subsequent distributions through the Automatic Distribution Reinvestment Plan thereby achieving the benefit of compounding returns in a cost effective manner. In order to take advantage of the Plan on the upcoming distribution, unitholders should contact their investment advisor or the undersigned as soon as possible and, ideally, no later than June 30, 1997.

For further information contact:


Mr. W. Garth Jestley
Director
Middlefield Group
(416) 362-0714

June 12, 1997

 
 
 

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