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Press release from Marketwire

Flaherty & Crumrine Investment Grade Fixed Income Fund Declares Special Year End Distribution

Tuesday, December 18, 2012

Flaherty & Crumrine Investment Grade Fixed Income Fund Declares Special Year End Distribution17:38 EST Tuesday, December 18, 2012TORONTO, ONTARIO--(Marketwire - Dec. 18, 2012) -NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATESFor the year ended December 31, 2012, Flaherty & Crumrine Investment Grade Fixed Income Fund (the "Fund") (TSX:FFI.UN) estimates that it will generate income of approximately $0.08 per unit in excess of its previously announced distributions for the year. As a result, the Fund is pleased to announce a special distribution estimated to be $0.08 per unit to unitholders of record at the close of business on December 31, 2012. The distribution consists of (i) a cash distribution in the amount of $0.04 per unit which approximates the income taxes payable (by taxable holders of the Fund) on the special distribution of income based on the highest marginal Ontario tax rate; and (ii) a distribution estimated to be $0.04 per unit that will be automatically reinvested in additional units to be determined based on the net asset value per unit as of December 31, 2012. The estimated amount of $0.04 per unit of automatic reinvestment may change depending on any other transactions occurring before year end. Immediately following issuance, the units of the Fund will be automatically consolidated and as a result, unitholders will hold the same number of units after the distribution as they held before it. The adjusted cost base of a holder's units will be increased by the amount of the distribution reinvested in units as of December 31, 2012. The payment date for the cash distribution will be January 15, 2013.About Brompton Funds Brompton Funds, a division of Brompton Group, is a leading and experienced closed-end fund manager. Brompton is focused on meeting the needs of investors by offering low cost, innovative products with client friendly terms and supported by strong corporate governance. For further information, please contact your investment advisor, call Brompton's investor relations line at 416-642-6000, toll-free at 1-866-642-6001, email info@bromptongroup.com 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: Contact Information: Brompton's investor relations line416-642-6000 or toll-free at 1-866-642-6001info@bromptongroup.comwww.bromptongroup.com