JovFunds Management Inc. Merging Mutual Funds

TORONTO, May 14 /CNW/ - JovFunds Management Inc. ("JovFunds") announces that it intends to merge two of the mutual funds that it manages into the Jov Leon Frazer Dividend Fund within the next 90 days.

The funds to be merged are the Jov Leon Frazer Balanced Fund and the Jov Diversified Monthly Income Fund (the "Funds"). Investors in the Funds being merged will be given 60 days' advance notice of the mergers.

About JovFunds Management Inc. (www.jovfunds.com)

JovFunds provides innovative investment solutions for Canadians through the creation, distribution and management of high quality investment products. JovFunds manages and distributes in excess of $1.8 billion in client assets and is wholly owned by Jovian Capital Corporation.

About Jovian Capital Corporation (www.joviancapital.com)

Jovian is a publicly-traded company listed on the TSX (JOV). Jovian is a management and holding company with interests in a variety of financial service firms specializing in wealth* and asset(xx) management. The Jovian group of companies operates as a national financial services organization with approximately $14.6 billion of client assets ($5.4 billion in assets under management and $9.2 billion in assets under administration).

* Wealth management entities include MGI Securities Inc., MGI Securities (USA) Inc. and Rice Financial Group Inc. (xx)Asset management entities include BetaPro Management Inc., Horizons Funds Inc., JovFunds Management Inc., JovFunds Inc., JovInvestment Management Inc., Leon Frazer & Associates Inc. and T.E. Wealth. Financial corporate service entities include Felcom Data Services Inc.

The TSX has not reviewed and does not accept responsibility for the

adequacy or accuracy of this release.

Contacts

Adam Felesky
Chief Executive Officer
JovFunds Management Inc.
(416) 933-5739