Scott R. Reid announces acquisition of trust units of Ravensource Fund

TORONTO, July 30 /CNW/ - Scott R. Reid ("Reid") announces his acquisition (the "Acquisition") on July 30, 2010 of 1,400 trust units of Ravensource Fund ("Ravensource"; TSX:RAV.UN) representing approximately 0.10% of the issued and outstanding trust units of Ravensource (based on 1,424,016 trust units of Ravensource issued and outstanding as at July 30, 2010). The 1,400 Ravensource trust units were acquired on the Toronto Stock Exchange for investment purposes at an average price of $9.10 per trust unit. Combined with the 142,328 trust units of Ravensource owned and controlled by Reid prior to the Acquisition, Reid now owns and has control of a total of 143,728 Ravensource trust units, representing approximately 10.09% of the issued and outstanding trust units of Ravensource (calculated on the same basis as above).

The trust units referred to above were acquired for investment purposes and Reid's investment may be increased or decreased in the future as considered appropriate in light of Reid's investment objectives, market conditions and other factors and in accordance with the provisions of applicable securities legislation.

Reid is the President, the sole director and the indirect sole shareholder of Stornoway Portfolio Management Inc., the investment manager of Ravensource, and has overall responsibility for directing the investment decisions and execution of investment strategies for Ravensource.

For further information: or to obtain a copy of the early warning report filed in respect of the above, please contact: Scott R. Reid, 30 St. Clair Avenue West, Suite 901, Toronto, Ontario, M4V 3A1, [phone]