RIDGEWOOD CANADIAN INVESTMENT GRADE BOND FUND AMENDS DECLARATION OF TRUST

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

TORONTO, Nov. 12 /CNW/ - Ridgewood Capital Asset Management Inc., ("Ridgewood")  the manager and trustee of Ridgewood Canadian Investment Grade Bond Fund (the "Fund") (RIB.UN - TSX) announces its intention to amend the Fund's declaration of trust (the "Declaration of Trust") to add a recirculation feature to the units of the Fund (the "Units").

Pursuant to this amendment, the Fund may engage a recirculation agent to seek purchasers for the Units that are surrendered for redemption in accordance with the Declaration of Trust prior to the relevant redemption payment date (the "Redemption Payment Date"). A unitholder who tenders Units for redemption shall be deemed to authorize the recirculation agent, as agent for the unitholder, to sell the Units so tendered for redemption and, in the event the recirculation agent does so sell the Units, to pay the proceeds (net of all fees and commissions) to Ridgewood for delivery to the unitholder and withdraw such unitholder's redemption election. The amount to be paid to a unitholder for each Unit surrendered for redemption shall equal the proceeds of the sale of the Units less any applicable commission, provided the amount to be paid to a Unitholder shall not be less than the Unit's applicable redemption price. In the event the recirculation agent does not find purchasers for the surrendered Units on or before the business day prior to the applicable Redemption Payment Date, the Units shall be redeemed in accordance with the terms of the Declaration of Trust.

It is expected that the amendment to the declaration of trust will be effective on December 13, 2010.

About Ridgewood Capital Asset Management Inc.:

Ridgewood is an independent investment manager that manages or subadvises approximately $1 billion in assets for a diversified client base of high net worth individuals, foundations/endowments, First Nation mandates, institutional accounts and wrap programs, of which $400 million is invested in fixed income assets. 

A copy of the Fund's final prospectus is available on Ridgewood's website www.ridgewoodcapital.ca

For further information:

For more information please call John H. Simpson, CFA, Managing Director, Ridgewood Capital Asset Management Inc. at [phone]