Canadian 50 Advantaged Preferred Share Fund Receives Approval for Normal Course Issuer Bid

TORONTO, July 23, 2013 /CNW/ - Canadian 50 Advantaged Preferred Share Fund (the "Fund") has received approval for a normal course issuer bid to purchase up to 459,201 Class A units of the Fund representing approximately 10% of the public float of 4,592,019 Class A units. The Fund may purchase up to 91,902 Class A units in any 30 day period which is 2% of the 4,595,119 issued and outstanding Class A units at July 19, 2013.

The Class A units may be purchased for cancellation from July 25, 2013 to July 24, 2014 through the facilities of the TSX or other eligible alternative markets.  Connor, Clark & Lunn Capital Markets Inc., the manager of the Fund, believes that such purchases are in the best interest of the Fund and are a desirable use of its available funds.

Canadian 50 Advantaged Preferred Share Fund trades on the Toronto Stock Exchange under the symbol CPF.UN.

Commissions, management fees and expenses all may be associated with investment funds. Please read the Fund's publicly filed documents which are available from SEDAR at www.sedar.com. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.

SOURCE: Connor, Clark & Lunn Capital Markets Inc.

For more information, please visit www.cclcapitalmarkets.com or contact:

Darren Cabral
Vice President & CFO
Connor, Clark & Lunn Capital Markets Inc.
[phone] or 1 [phone]
[email protected]