Jov Prosperity Funds to re-organize management

TORONTO, Aug. 21 /CNW/ - T.E. Investment Counsel Inc. ("TEIC"), the manager and portfolio advisor of the Jov Prosperity Canadian Fixed Income Fund, Jov Prosperity Canadian Equity Fund, Jov Prosperity U.S. Equity Fund and Jov Prosperity International Equity Fund (the "Prosperity Funds"), and JovFunds Management Inc. ("JovFunds"), the administrator of the Prosperity Funds, announce that, in order to gain further cost efficiencies in the management of these investment funds, effective November 1, 2008, JovFunds will become the manager of the Prosperity Funds. TEIC will continue to act as the Prosperity Funds' portfolio advisor.

About T.E. Investment Counsel Inc. (www.tewealth.com)

TEIC provides customized multi-manager, multi-style investment solutions to both high net worth and institutional clients. TEIC currently manages in excess of $2.3 billion for its clients.

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 $2.5 billion in client assets and is wholly owned by Jovian Capital Corporation.

About Jovian Capital Corporation (www.joviancapital.com)

Jovian Capital Corporation ("Jovian") acquires, creates and grows financial services companies specializing in wealth and asset management. The Jovian group of companies (MGI Securities Inc., MGI Securities (USA) Inc., Rice Financial Group Inc., BetaPro Management Inc., Horizons Funds Inc., JovFunds Management Inc., JovFunds Inc., JovInvestment Management Inc., Leon Frazer & Associates Inc., T.E. Wealth and Felcom Data Services Inc.) manages $16.0 billion of client assets ($6.5 billion in assets under management and $9.5 billion in assets under administration). Additional information is available at www.joviancapital.com and www.sedar.com

Contacts

Steven Hawkins
Managing Partner
JovFunds Management Inc.
(416) 601-2442