Mullen Provides 2006 Canadian Income Tax Information

The Mullen Group Income Fund is pleased to provide the following information which is intended to assist Canadian resident Unitholders in the preparation of a 2006 T1 Income Tax Return. The Fund has determined that for Canadian resident Unitholders, distributions declared and paid in respect of 2006 are comprised of 88.9 percent taxable income and 11.1 percent return of capital.

The information contained herein is based on the Fund's understanding of the Income Tax Act (Canada) ("Act") and the regulations there under, and is provided for general information only. Unitholders are advised to consult their personal tax advisors with respect to their particular circumstances.

Mullen qualifies as a mutual fund trust under the Act and as such, the Mullen Trust Units ("Units") are qualified investments for registered retirement savings plans ("RRSPs"), registered retirement income funds ("RRIFs"), registered education savings plans ("RESPs"), and deferred profit sharing plans ("DPSPs"), all as defined in the Act. Unitholders who hold their Units in a RRSP, RRIF, RESP, or DPSP need not report any income related to Unit distributions on their 2006 Income Tax Return.

A Unitholder that does not hold his or her Units in an RRSP, RRIF, RESP or DPSP, must report the taxable portion of the 2006 income allocated by the Trust to the Unitholder, on the Unitholder's 2006 Income Tax Return. This taxable amount will be reported on a "T3 - Statement of Trust Income and Allocations and Designations" ("T3 Slip") that will be issued (i.e., "Other income" - Box 26 on the T3 Slip) and mailed to all Unitholders before March 31, 2007. -- www.cnxmarketlink.com