Aston Hill VIP Income Fund renews normal course issuer bid

TORONTO, Nov. 7, 2012 /CNW/ - (TSX: VIP-UN) Aston Hill VIP Income Fund (the "Fund") has renewed its normal course issuer bid to purchase up to 3,410,658 units of the Fund representing approximately 10% of the public float of 34,106,582 units.  The Fund may purchase up to 682,131 units in any 30 day period which is 2% of the 34,106,582 issued and outstanding units at October 30, 2012.

As of October 30, 2012, the Fund had purchased 324,300 units under its current bid at an average price of $8.85 per unit.

The units may be purchased for cancellation from November 10, 2012 to November 9, 2013 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 published 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.

Further information on the Fund is available at www.astonhill.ca.

SOURCE: Aston Hill Asset Management Inc.

For further information:

Michael J. Killeen
President
Aston Hill Asset Management Inc.
(416) 583-2300