Ridgewood Canadian Investment Grade Bond Fund Announces Distribution Rate for
Second Quarter

TSX Symbol: RIB.UN

TORONTO, March 31 /CNW/ - Ridgewood Canadian Investment Grade Bond Fund (the "Fund") is pleased to announce that distributions for the second quarter of 2010 will be payable to unitholders of the Fund as follows:

    
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    Record Date           Payable Date           Distribution Amount per Unit
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    April 30, 2010        May 15. 2010           $0.0525
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    May 31, 2010          June 15, 2010          $0.0525
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    June 30, 2010         July 15, 2010          $0.0525
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This distribution rate equates to an annualized distribution rate of 5.25% on an initial subscription price of $12.00 per unit.

This press release contains forward-looking information. The forward-looking information contained in this press release is based on historical information concerning the income generated by the portfolio of the Fund. Actual future results, including the amount of distributions paid by the Fund, may differ from the monthly distribution amount. Specifically, the income from which distributions are paid may vary significantly due to: changes in portfolio composition; changes in income received from securities included in the Fund's portfolio from time to time; general economic and stock market conditions including changes in interest rates; and the level of borrowing by the Fund. The risks, uncertainties and other factors that could influence actual results are described under "Risk Factors" in the Fund's prospectus dated November 27, 2009 and other documents filed by the Fund with the Canadian securities regulatory authorities. The forward-looking information contained in this press release constitutes the Fund's current estimate, as of the date of this press release, with respect to the matters covered hereby. Investors and others should not assume that any forward-looking statement contained in this press release represents the Fund's estimate as of any date other than the date of this press release.

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