Press Release

MINT announces Third Quarter 2002 Distribution
and Investment Update

MINT Income Fund ("MINT") is pleased to announce that a distribution of $0.18 per trust unit will be payable on October 24, 2002 to unitholders of record on September 30, 2002 which is consistent with the quarterly distribution paid in the second quarter of 2002. This equates to an annualized yield of approximately 9¾% based on a unit market price of $7.40.

The current asset class weightings for the MINT portfolio are:

Unitholders of MINT can acquire additional units by participating in the Distribution Reinvestment Plan. The Plan enables unitholders to reinvest their quarterly distributions in additional units of MINT thereby achieving the benefit of compounding returns. In order to take advantage of the Plan, unitholders should contact their investment advisor or Middlefield.

MINT trades on the Toronto Stock Exchange under the symbol "MID.UN".

For further information visit our website at www.middlefield.com or contact the undersigned:

Nancy Tham
Vice President
(416) 362-0714, Ext. 277

September 11, 2002

This press release contains forward-looking information. Actual future results may differ materially. The risks, uncertainties and other factors that could influence actual results are described in MINT’s annual report to unitholders and other documents filed with regulatory authorities.