Attention Business/Financial Editors:

NORTHWATER Top 75 Income Trusts Plus - August 29, 2008 DISTRIBUTION

    TORONTO, Aug. 20 /CNW/ - The Northwater Top 75 Income Trusts Plus (the
"Trust") announced today it has declared a regular monthly distribution to be
payable to unitholders of record on August 29, 2008 in the amount of $0.08 per
unit. The distribution is expected to be paid on September 12, 2008.

    The Northwater Top 75 Income Trusts Plus is a well-diversified fund of
income trusts and market-neutral hedge funds. Units are listed on the Toronto
Stock Exchange under the symbol NTP.UN.

For further information: Mohamed Khaki or Stephen Foote at Northwater
Capital Management Inc. at (416) 360-5435