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Press release from Marketwire

Front Street Strategic Yield Fund Ltd. Declares Quarterly Dividend

Wednesday, December 21, 2011

Front Street Strategic Yield Fund Ltd. Declares Quarterly Dividend14:19 EST Wednesday, December 21, 2011TORONTO, ONTARIO--(Marketwire - Dec. 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 $0.15 per Equity Share for the quarter ending December 31, 2011. The dividend is anticipated to be payable on or before January 16, 2012 to shareholders of record on December 30, 2011.FOR FURTHER INFORMATION PLEASE CONTACT: Investor RelationsFront Street Capital 20041-800-513-2832www.frontstreetcapital.com