Ridgewood Canadian Investment Grade Bond Fund Announces Additional Public
Offering

TORONTO, April 26 /CNW/ - Ridgewood Capital Asset Management Inc. is pleased to announce that it has filed a short form prospectus in each of the provinces of Canada with respect to an additional offering of units of Ridgewood Canadian Investment Grade Bond Fund (RIB.UN:TSX).

The Fund seeks to achieve the following investment objectives: (i) to provide unitholders with monthly cash distributions, initially targeted to be 5.25% per annum on the original issue price of $12.00 per unit; and (ii) to maximize total returns for unitholders while preserving capital in the long term.

The syndicate of agents for the offering is being led by TD Securities Inc. and RBC Capital Markets and includes CIBC World Markets Inc., BMO Nesbitt Burns Inc., GMP Securities L.P., National Bank Financial Inc., Scotia Capital Inc., HSBC Securities (Canada) Inc., Raymond James Ltd., Canaccord Financial Ltd., Dundee Securities Corporation, Macquarie Capital Markets Canada Ltd., Manulife Securities Incorporated and Wellington West Capital Markets Inc.

A preliminary prospectus containing important information relating to the units has been filed with securities commissions or similar authorities in all provinces of Canada. The preliminary prospectus is still subject to completion or amendment. Copies of the preliminary prospectus may be obtained from your registered financial advisor. There will not be any sale or any acceptance of an offer to buy the units until a receipt for the final prospectus has been issued.

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 $500 million is invested in fixed income assets.

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