TORONTO, ONTARIO--(MARKET WIRE)--Aug 28, 2008 -- Government Strip Bond Trust (Toronto:GSB-UN.TO - News)(the "Trust") announces results for six months ended June 30, 2008. Net realized income before distributions amounted to $2.0 million or $0.53 per unit. Net assets were $85.4 million or $22.68 per unit.

The Fund's investment objective is to return at least $25.75 per unit to unitholders upon termination of the Fund on December 31, 2012. The Fund intends to achieve its investment objectives by investing in a portfolio of Zero Coupon Bonds and also hold cash and cash equivalents in an amount sufficient to cover all costs and expenses of the Trust until the Termination Date.

The Fund's investment portfolio is managed by its investment manager, Mulvihill Capital Management Inc. Fund Units are listed on The Toronto Stock Exchange under the symbol GSB.UN.

 

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Selected Financial Information: ($ Millions)
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Statement of Financial Operations
for the six months ended June 30, 2008
(Unaudited)

Revenue                                           $2.0
Net Realized Gains                                 0.4
                                                  -----
                                                   2.4

Less: Expenses                                    (0.4)
                                                  -----

Net Realized Income Before Distributions          $2.0

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A member of the Mulvihill Capital Management Inc. Group of Funds.

     Contacts:
     Mulvihill Structured Products
     John Mulvihill
     President & CEO
     (416) 681-3966 or 1-800-725-7172
      
     Mulvihill Structured Products
     Don Biggs
     Senior Vice President
     (416) 681-3966 or 1-800-725-7172
     Email: hybrid@mulvihill.com (FAX)
     Website: http://www.mulvihill.com