Press Release


Declares Quarterly Distribution

(For Release 4 p.m. EDT, June 4, 2003)

Toronto, June 4, 2003: Mulvihill Summit Digital World (the "Fund") has declared its quarterly distribution of C$0.10 per Unit payable June 30, 2003 to unitholders of record as of June 16, 2003.

The Fund achieves its investment objectives by investing in a diversified portfolio of Common Shares issued by leading digitally based companies. These companies are either listed on a major North American stock exchange or quoted on NASDAQ with a market capitalization in excess of US$5.0 billion. They must operate within the sectors of Telecommunication Services, Telecommunication Equipment Suppliers, Enabling Hardware and Software, and Related Digital Commerce, Services and Products, the "Digital World Universe".

To generate additional returns above the dividend income earned on the portfolio the Fund may, from time to time, write covered call options in respect of all or part of the securities in its portfolio. In addition, the Fund may write cash covered put options in respect of securities in which it is permitted to invest.

Mulvihill Summit Digital World offers investors the opportunity to conveniently acquire additional units of the Fund by reinvesting their cash distributions through the Fund's Distribution Reinvestment Plan. Unitholders may enroll in the Plan by contacting their investment advisor.

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 DWT.UN.

Distribution Detail:

Distribution per Unit

$ 0.10

Payable Date

June 30, 2003

Record Date

June 16, 2003

Ex-Dividend Date

June 12, 2003


For more information please contact:
John Mulvihill, Chairman & CEO
David Middleton, CFO, Structured Products


Mulvihill Summit Digital World
121 King Street West, Suite 2600
Toronto, Ontario M5H 3T9
(416) 681-3966   (800) 725-7172
hybrid@mulvihill.com
www.mulvihill.com