RIDGEWOOD CANADIAN INVESTMENT GRADE BOND FUND ANNOUNCES NORMAL COURSE ISSUER
BID

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

TORONTO, Nov. 10 /CNW/ - Ridgewood Capital Asset Management Inc., ("Ridgewood")  the manager and trustee of Ridgewood Canadian Investment Grade Bond Fund (the "Fund") (RIB.UN - TSX) announces that the Toronto Stock Exchange ("TSX") has accepted the Fund's notice of intention to make a normal course issuer bid.  The normal course issuer bid will commence on November 15, 2010 and will terminate on November 14, 2011, or on such earlier date as the Fund may complete its purchases pursuant to the notice of intention to make a normal course issuer bid filed with the TSX.

The Fund had 4,887,000 units issued and outstanding as at November 5, 2010. The Fund may, during the 12 month period commencing on November 15, 2010, purchase on the TSX up to 481,691 units, representing 10% of the public float of units of the Fund, being 4,816,915 units, and may not, in any 30 day period, purchase more than 97,740 units, being 2% of the units issued and outstanding. Ridgewood believes that the units represent good value for the Fund and purchases under the normal course issuer bid may serve to enhance returns to unitholders. All units purchased by the Fund will be on the open market through the facilities of the TSX in accordance with the rules, regulations and policies of the TSX and will be cancelled. The prices that Fund will pay for any of the units purchased will be the market price of the units at the time of acquisition, determined in accordance with the rules of the TSX.

To the knowledge of Ridgewood, no director, senior officer or other insider of the Fund currently intends to sell any units under this bid. However, sales by such persons through the facilities of the TSX may occur if the personal circumstances of any such person change or any such person makes a decision unrelated to these normal course purchases. The benefits to any such person whose units are purchased would be the same as the benefits available to all other holders whose units are purchased.

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:

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