An anonymous director reports

EAST COAST INVESTMENT GRADE INCOME FUND ANNOUNCES A PUBLIC OFFERING

Arrow Capital Management Inc., on behalf of East Coast Investment Grade Income Fund, has filed a prospectus supplement with the securities commissions, or similar authorities, in all provinces and territories in Canada, with the exception of Quebec, relating to a distribution of units of the fund. The units are being offered at a price of $9.70 per unit. The closing price on the Toronto Stock Exchange for the units on Oct. 22, 2018, was $9.78 per unit. The offering price of the units was determined so as to be non-dilutive to the most recently calculated net asset value per unit of the fund (calculated as at Oct. 22, 2018), as adjusted for distributions and certain expenses to be accrued prior to or upon settlement of the offering.

The fund is unique in that its credit-focused mandate seeks to generate attractive risk-adjusted returns with low volatility through exposure to a diversified portfolio primarily composed of Canadian investment-grade corporate bonds, while minimizing the interest rate risk associated with such bonds. The fund provides diversification for a typical fixed-income portfolio since it has been historically uncorrelated to traditional fixed-income strategies and provides a high level of monthly income, both of which are not normally associated with portfolios of high-quality bonds.

The offering is being made on a best efforts agented basis through a syndicate of agents led by RBC Capital Markets and CIBC Capital Markets. Copies of the prospectus supplement, together with the short form base shelf prospectus of the fund dated April 25, 2017, may be obtained from your registered financial adviser or from SEDAR. Investors should read the short form base shelf prospectus and the prospectus supplement before making an investment decision. There will not be any sale or any acceptance of an offer to buy the offered units until the prospectus supplement has been filed with the securities commissions or similar authorities in each of the provinces and territories of Canada, other than Quebec.

About Arrow Capital Management Inc.

Founded in 1999, Arrow Capital Management is an employee-owned company. Arrow Capital Management's expertise in active portfolio management and manager selection is evident in its strong, diverse platform, which provides clients with access to a global selection of actively managed investment funds. Arrow Capital Management is committed to continuously providing investors with access to a wide range of investment solutions. With nearly 20 years in business, Arrow Capital Management is well respected as a Canadian alternative investment company.

About East Coast Fund Management Inc.

East Coast Fund Management was founded in 2009, with the aim of providing high-net-worth individuals the ability to maximize risk-adjusted returns of investment-grade credit, while removing exposure to interest rates. The portfolio management team at East Coast Fund Management has a combined 100 years of financial services experience. East Coast Fund Management has been a subadviser to Arrow Capital Management since 2010.

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