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Press release from Marketwire

Front Street Strategic Yield Fund Ltd. Declares Quarterly Dividend and Expiry of Warrants on June 30, 2011

Tuesday, June 21, 2011

Front Street Strategic Yield Fund Ltd. Declares Quarterly Dividend and Expiry of Warrants on June 30, 201112:49 EDT Tuesday, June 21, 2011TORONTO, ONTARIO--(Marketwire - June 21, 2011) -THIS PRESS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE SERVICESFront Street Strategic Yield Fund Ltd. (the "Fund") (TSX:FSS), is pleased to announce a dividend of $0.125 per Equity Share for the quarter ending June 30, 2011. The dividend is anticipated to be payable on or before July 15, 2011 to shareholders of record on June 30, 2011.Front Street Capital, the Manager of the Fund, also wishes to announce that the warrants of the Fund (TSX:FSS.WT) issued in connection with the Fund's initial public offering (the "Warrants"), will expire at 5:00 p.m. (Toronto time) on June 30, 2011. Each Warrant entitles the holder to purchase one Equity Share at a subscription price of $10.00. Warrants not exercised prior to 5:00 p.m. (Toronto time) on June 30, 2011 will be void and of no value. To exercise Warrants, holders should contact their investment dealer. Additional information on the Warrants can be found in the Fund's prospectus dated May 6, 2010, which is available at www.SEDAR.com.FOR FURTHER INFORMATION PLEASE CONTACT: Investor RelationsFront Street Capital 20041-800-513-2832www.frontstreetcapital.com