June 02, 2010 at 16:11 PM EDT
Top 10 Canadian Financial Trust Declares Quarterly Distribution

TORONTO, ONTARIO -- (Marketwire) -- 06/02/10 -- Top 10 Canadian Financial Trust (the "Fund") (TSX: TCT.UN) has declared its quarterly distribution of C$0.20138 per unit payable June 30, 2010 to unitholders of record as of June 15, 2010.

The Funds investment objectives are to provide unitholders with a stable stream of quarterly cash distributions targeted to be 7.5% per annum of the net asset value of the Fund and to return the net asset value per unit as of the date the Special Resolution was adopted upon termination of the Fund on December 31, 2010. The Fund invests in a portfolio consisting of the six largest Canadian banks and the four largest Canadian life insurance companies by market capitalization.

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 securities in its portfolio. In addition, the Fund may write cash covered put options in respect of securities in which it is permitted to invest.

Top 10 Canadian Financial Trust offers investors the opportunity to acquire additional units of the Fund by re-investing their cash distributions through 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. The Fund's units and warrants are listed on The Toronto Stock Exchange under the symbols TCT.UN and TCT.WT respectively. Each warrant entitles its holder to acquire one unit at a subscription price of $10.59 on each business day commencing on December 24, 2009 and ending on June 15, 2010.


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A member of the Mulvihill Capital Management Inc. Group of Funds

Contacts:
Top 10 Canadian Financial Trust
Investor Relations
(416) 681-3966 or Toll Free: 1-800-725-7172
www.mulvihill.com

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