TORONTO, ONTARIO--(Marketwire - Dec. 22, 2011) -[ Flaherty & Crumrine Investment Grade Fixed Income Fund ](TSX:FFI.UN) has renewed its normal course issuer bid to purchase up to 980,000 units of the Fund representing approximately 10% of the public float of 9,800,657 units. The Fund may purchase up to 197,673 units in any 30 day period which is 2% of the 9,883,673 issued and outstanding units at December 14, 2011.

As of December 14, 2011, the Fund had purchased 191,700 units under its current bid at an average price of $10.67 per unit.

The units may be purchased for cancellation from December 28, 2011 to December 27, 2012 through the facilities of the TSX or other eligible alternative market and may only be purchased at a price per unit not exceeding the last net asset value per unit. The Manager of the Fund believes that such purchases are in the best interest of the Fund and are a desirable use of its available funds.

About Brompton Funds

Brompton Funds, a division of Brompton Group, is a leading, experienced closed-end fund manager and leader in corporate governance. Brompton is focused on meeting the needs of investors by offering low cost, innovative products with client friendly terms. For further information, please contact your investment advisor, call Brompton's investor relations line at 416-642-9051, (toll-free at 1-866-642-6001) email [ info@bromptongroup.com ] or visit our website at [ www.bromptongroup.com ].

Commissions, trailing commissions, management fees and expenses all may be associated with investment funds. Please read the fund's publicly filed documents which are available from SEDAR at [ www.sedar.com ]. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.

Certain statements contained in this news release constitute forward-looking information within the meaning of Canadian securities laws. Forward-looking information may relate to matters disclosed in this press release and to other matters identified in public filings relating to the Fund, to the future outlook of the Fund and anticipated events or results and may include statements regarding the future financial performance of the Fund. In some cases, forward-looking information can be identified by terms such as "may", "will", "should", "expect", "plan", "anticipate", "believe", "intend", "estimate", "predict", "potential", "continue" or other similar expressions concerning matters that are not historical facts. Actual results may vary from such forward-looking information.

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