Premier Canadian Income Fund Declares Distribution

TORONTO, ONTARIO, Nov 02 (MARKET WIRE) --
Premier Canadian Income Fund (TSX: GIP.UN) (the "Fund"), formerly Global
Plus Income Trust, has declared its distribution of C$0.06023 per unit
for October and November 2009, payable November 30, 2009 to unitholders
of record as of November 16, 2009.

On October 26, 2009, unitholders of the Fund approved a proposal to
reposition the Fund and its portfolio and to extend its termination date
to December 31, 2014. The Fund's new investment objectives will be (a) to
maximize total returns for unitholders including both long-term
appreciation in net asset value ("NAV") per unit and distributions; and
(b) to pay unitholders monthly distributions in an amount targeted to be
6.5% per annum on the NAV of the Fund. The Fund will invest in a
portfolio principally consisting of common shares selected from the
energy, financial and materials sectors of the S&P/TSX 60 Index. In
addition, the Fund may invest up to 20% of its net assets in equity
securities of issuers selected from the S&P/TSX 60 Composite Index.

To generate additional returns above the dividend income earned on the
portfolio, the Fund may from time to time, write covered call options in
respect of all or part of the common shares in the Portfolio. In
addition, the Fund may write cash covered put options in respect of
securities in which the Fund is permitted to invest.

Unitholders of Premier Canadian Income Fund may elect to have their
distributions re-invested into additional units by enrolling in the
Fund's Distribution Reinvestment Plan. Unitholders may enroll in the Plan
by contacting their investment advisor.

The Fund's investment portfolio is managed by its investment manager,
Mulvihill Capital Management Inc. Fund units are listed on The Toronto
Stock Exchange under the symbol GIP.UN.

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Distribution Details :
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Distribution per Unit: $0.06023
Payable Date: November 30, 2009
Record Date: November 16, 2009
Ex-Dividend Date: November 12, 2009
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A member of the Mulvihill Capital Management Inc. Group of Funds

Contacts:
Premier Canadian Income Fund
Investor Relations
416.681.3966 or toll free at 1.800.725.7172
www.mulvihill.com

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