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Press release from Marketwire

Canadian High Income Equity Fund Announces Distributions

Thursday, January 20, 2011

Canadian High Income Equity Fund Announces Distributions17:05 EST Thursday, January 20, 2011TORONTO, ONTARIO--(Marketwire - Jan. 20, 2011) - Canadian High Income Equity Fund (TSX:CIQ.UN) (the "Fund") announces distributions in the amount of $0.065 per unit per month for record dates from January to March 2011. At this time, the Fund also expects that this will be the monthly distribution rate throughout 2011 with formal announcements made quarterly. Record DatePayment DateJanuary 31, 2011February 14, 2011February 28, 2011March 14, 2011March 31, 2011April 14, 2011Starting in January 2011 income trusts have become taxable entities and many have converted into corporations. To fund the payment of corporate income tax, many of the new corporations have reduced the amount of their distributions. As a result, the Fund has reduced its monthly distribution rate. However, unitholders are reminded that as a result of the conversion of income trusts to corporations, distributions from the former income trusts will be treated as dividends for tax purposes (rather than ordinary income) and, as a result, taxable Canadian investors will benefit from the dividend tax credit.For additional information concerning the Fund, please call our investor relations line at 416-642-9051 (toll-free at 1-866-642-6001) or visit our website at, 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 Investment funds are not guaranteed, their values change frequently and past performance may not be repeated. Forward-Looking Statements 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: Chris CullenBrompton Funds Management LimitedSenior Vice President416-642-9064