November 26, 2010 at 16:30 PM EST
Copernican World Banks Income and Growth Trust (TSX: CBK.UN) and European Premium Dividend Fund (TSX: EPD.UN) Announce Approval of Proposed Mergers

BURLINGTON, ONTARIO -- (Marketwire) -- 11/26/10 -- Portland Investment Counsel Inc. announced today the following previously announced mergers were approved by securityholders at meetings held November 26, 2010:


--  Copernican World Banks Income and Growth Trust (TSX: CBK.UN) to merge
    into Global Banks Premium Income Trust (TSX: GBP.UN); and
--  European Premium Dividend Fund (TSX: EPD.UN) to merge into Copernican
    International Premium Dividend Fund (TSX: CPM.UN).

Subject to confirmation of the conditional approval already received from the TSX, it is intended that the mergers will be completed on or about December 10, 2010. When the mergers are completed unitholders of Copernican World Banks Income and Growth Trust would become unitholders of Global Banks Premium Income Trust, and unitholders of European Premium Dividend Fund would become unitholders of Copernican International Premium Dividend Fund. Copernican World Banks Income and Growth Trust and European Premium Dividend Fund will be de-listed from the TSX and wound up.

Contacts:
Portland Investment Counsel Inc.
Chris Wain-Lowe
905-331-4250

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