TORONTO, ONTARIO--(Marketwire - Jan. 4, 2011) - Canadian Utilities & Telecom Income Fund (the "Fund") (TSX:UTE.UN) has declared its initial distribution in the amount of $0.09907 payable on January 31, 2011 to unitholders of record on January 17, 2011, ex-dividend date of January 13, 2011. This initial distribution reflects the period from closing of the initial public offering on December 17, 2010 to January 31, 2011. To the extent that any portion of the distributions are ordinary taxable dividends and not capital gains dividends, they will be eligible dividends.

For further information, please contact Investor Relations at 416.681.3966, toll free at 1.800.725.7172 or visit www.mulvihill.com.

Commissions, trailing commissions, management fees and expenses all may be associated with investment funds. Please read the prospectus before investing. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.

Contact Information: Mulvihill Structured Products
John Mulvihill
President and CEO
416.681.3966 or 1.800.725.7172
or
Mulvihill Structured Products
David Roode
President, Fund Services
416.681.3966 or 1.800.725.7172
or
Mulvihill Structured Products
Aaron Ho
Vice-President, Finance
416.681.3966 or 1.800.725.7172
or
Mulvihill Structured Products
121 King Street West, Suite 2600
Toronto, Ontario, M5H 3T9
416.681.3966 or 1.800.725.7172
info@mulvihill.com
www.mulvihill.com