Front Street Capital 2004, the Manager of the Front Street Long/Short Income Fund (the “Fund”), wishes to provide former unitholders in the Fund with the following information as to the steps undertaking in connection with the recent merger of the Fund into a class of another Front Street fund.

As a result of the merger, you now hold shares in the Front Street Yield Opportunities Fund class of Front Street Opportunity Funds Ltd. (“Opportunity Funds”, formerly known as Front Street Rollover Fund Limited). Accordingly, your account statements no longer reflect any ownership of Fund units. You should be receiving in the next few weeks account statements which reflect your holdings of shares in Front Street Yield Opportunities Fund class, rather than units of the Fund. These statements will be available as soon as our administrator has completed the reconciliation process for all unitholder accounts and input the necessary account data.

You have been issued one “Front Street Yield Opportunities Fund” class of shares of Opportunity Funds for each unit of the Fund held at the date of the merger. Such shares were issued at a price of $9.4996, which was the net asset value of a unit of the Fund as at the close of business on August 9, 2007 (the date the merger was effected), calculated after payment of the regular monthly and special distributions discussed below.

In preparation for the merger, Front Street Rollover Fund Limited amended its share capital, to provide for the issuance of the Front Street Yield Opportunities Fund class of shares, among other share classes. This was accomplished pursuant to the filing of Articles of Amendment dated August 9, 2007. As part of these articles of amendment, the name of Front Street Rollover Fund Limited was changed to Front Street Opportunity Funds Ltd.

With respect to distributions, the Fund had previously declared its regular monthly distribution of $0.05 per unit payable to unitholders of the Fund of record on July 31, 2007. For those unitholders of the Fund who receive regular monthly distributions in cash, a cash payment was made to their accounts effective August 15, 2007. For those unitholders who elected to receive their regular monthly distributions pursuant to the reinvestment of the distribution amounts in additional units, such additional units were issued immediately prior to the merger and were converted into additional shares of Front Street Yield Opportunities Fund class on the merger.

In addition to this regular monthly distribution, a special distribution of $0.58477 per unit was paid to unitholders of record of the Fund on August 8, 2007. Again, for those unitholders of the Fund who receive distributions in cash, a cash payment was made to their accounts on August 15, 2007. For those unitholders who receive distributions through the issuance of additional units, again those additional units were issued prior to the completion of the merger and resulted in these unitholders being issued an equivalent number of additional shares of Front Street Yield Opportunities Fund class on the merger.

As a result of the merger, the units of the Fund were de-listed, from the TSX following the close of trading on August 9, 2007. Although the shares of Front Street Yield Opportunities Fund class that you now hold are not listed on the TSX, they are redeemable on demand on a daily basis. Redemption requests will be processed as quickly as possible once our administrator has completed the reconciliation process.

For further information:

Front Street Capital
Investor Relations
Toll free: 1-800-513-2832
or www.frontstreetcapital.com