Mulvihill Top 10 Split Trust Announces Normal Course Issuer Bid

Mulvihill Top 10 Split Trust (TSX:TXT.UN)(TSX:TXT.PR.A) (the "Fund") is pleased
to announce that today, the Toronto Stock Exchange has accepted its Notice of
Intention to make a normal course issuer bid. The Trust will have the right to
purchase under the bid up to a maximum of 314,727 Capital Units and 314,727
Preferred Securities (representing approximately 10% of the Trust's public
float), together in units (each consisting of one Capital Unit and one Preferred
Security), commencing May 9, 2008. The Trust may not purchase more than 63,681
of its units (representing approximately 2% of the Trust's 3,184,078 issued and
outstanding Capital Units and approximately 2% of the Trust's 3,184,078 issued
and outstanding Preferred Securities, both as of April 29, 2008) in any 30-day
period under the bid. Purchases made pursuant to the normal course issuer bid
will be made in the open market through the facilities of the Toronto Stock
Exchange. The normal course issuer bid will remain in effect until the earlier
of May 8, 2009, the termination of the bid by the Trust or the Trust purchasing
the maximum number of units permitted under the bid. Capital Units and Preferred
Securities purchased by the Trust pursuant to the issuer bid will be cancelled.
The Trust has not purchased any Capital Units or Preferred Securities during the
previous year pursuant to any issuer bid.


Management and the directors of the manager of the Trust, Mulvihill Fund
Services Inc., believe that Capital Units and Preferred Securities of the Trust
may become available during the proposed purchase period at prices that would
make such purchases in the best interests of the Trust.

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