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Press release from Marketwire

Brompton Announces Closing of Warrant Offerings

Tuesday, April 20, 2010

Brompton Announces Closing of Warrant Offerings14:40 EDT Tuesday, April 20, 2010TORONTO, ONTARIO--(Marketwire - April 20, 2010) - NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. Brompton Funds Management Limited (TSX:VIP.UN)(TSX:AV.UN)(TSX:OGF.UN)(TSX:AOG.UN) is pleased to announce the closing of warrant offerings for four of its funds under management. Gross proceeds for all four offerings totaled $242 million, representing the maximum available subscription, as follows: Gross Units Issued Proceeds Fund Ticker (millions) (millions) ---------------------------------------------------------------------------- Brompton VIP Income Fund VIP.UN 13.663 $ 113.8 Brompton Advantaged VIP Income Fund AV.UN 5.443 $ 49.4 Brompton Oil & Gas Income Fund OGF.UN 11.019 $ 52.2 Brompton Advantaged Oil & Gas Income Fund AOG.UN 5.579 $ 26.7 Each of the funds offers high monthly income, low fees and best-in-class portfolio management. Alan Wicks and his team at MFC Global Investment Management, the portfolio manager for all four funds, have received the Lipper Award for the past 3 years in a row (2008, 2009 and 2010) in the category of Canadian Balanced Equity Funds (10-year performance). This prestigious award is granted on the basis of superior consistency and risk-adjusted returns.The net proceeds of the warrants offerings will provide the funds with additional capital that can be used to take advantage of attractive investment opportunities. The completion of the warrant offerings is also expected to increase the trading liquidity of the units and reduce the ongoing management expense ratios of the funds.For further information, please contact your financial advisor, call Brompton's investor relations line at 416-642-9051, (toll-free at 1-866-642-6001) or visit our website at www.bromptongroup.com.The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or any applicable exemption from the registration requirements. This press release does not constitute an offer to sell or the solicitation of an offer to buy Units nor will there be any sale of such securities in any state in which such offer, solicitation or sale would be unlawful.Commissions, trailing commissions, management fees and expenses all may be associated with investment funds. Please read the Fund's publicly filed documents which are available from SEDAR at www.sedar.com. Investment funds are not guaranteed; their values change frequently and past performance may not be repeated. Certain statements contained in this news release constitute forward-looking information within the meaning of Canadian securities laws. Forward-looking information may relate to matters disclosed in this press release and to other matters identified in public filings relating to the Fund, to the future outlook of the Fund and anticipated events or results and may include statements regarding the future financial performance of the Fund. In some cases, forward-looking information can be identified by terms such as "may", "will", "should", "expect", "plan", "anticipate", "believe", "intend", "estimate", "predict", "potential", "continue" or other similar expressions concerning matters that are not historical facts. Actual results may vary from such forward-looking information.FOR FURTHER INFORMATION PLEASE CONTACT: Brompton Funds Management Limited David E. Roode Senior Vice President (416) 642-6008