Aston Hill announces second quarter results



    CALGARY, Aug. 27 /CNW/ - Aston Hill Financial Inc. (the "Company" or
"Aston Hill") (TSXV: AHF) announces that it has filed the unaudited interim
consolidated financial statements for the period ended June 30, 2008 and
related Management Discussion and Analysis with Canadian Securities Regulatory
Authorities. Copies of these documents may be obtained via SEDAR at
www.sedar.com.
    Aston Hill's net income for the three months ending June 30, 2008 was
$4.1 million. This included revenue from management and acquisition fees of
$2.3 million and income from investing activities of $4.0 million, offset by
net operating expenses of $2.2 million.
    The highlight of the second quarter consisted of the increase in the
value of Aston Hill's investment in Sword Energy Inc. ("Sword"). Aston Hill
had increased its ownership in this private oil and gas producing entity in
the first quarter of 2008. Since that time, Sword has benefited from an
increase in value attributed to higher commodity prices, and an increase in
oil and gas reserves value due to property development and acquisition
activities.
    The management fees received from Sword remain Aston Hill's greatest
source of income. It should be noted that these fees get re-calculated
retroactively based upon the Net Asset Value ("NAV") of Sword at each year
end. The fees received for the first half of 2008 do not reflect the
aforementioned increase in Sword's NAV as they were based upon Sword's NAV at
Dec. 31, 2007. The final adjustments to this fee are calculated and payable in
the fourth quarter of each year.
    Assets Under Management ("AUM") have grown from approximately $500
million at June 30, 2007 to approximately $735 million at June 30, 2008,
representing a year over year growth rate of 47%. Aston Hill is continuously
launching new products and working to increase the size and return of existing
products with a goal to grow recurring cash flows.
    Subsequent to the second quarter, Aston Hill was pleased to announce that
it was selected to sub-advise the IA Clarington Tactical Income Fund and the
IA Clarington Global Income Fund. At July 31, 2008, these funds had total
assets of $135 million and will be added to our AUM calculation in the third
quarter of 2008. IA Clarington Investments Inc. is a subsidiary of Industrial
Alliance Insurance and Financial Services Inc. and markets a wide range of
investment products managed by leading portfolio managers.

    Aston Hill is an investment manager with expertise in the energy sector,
income trusts, oil and gas property management, private equity and high-yield
products.

    The TSX Venture Exchange has neither approved nor disapproved the
    information contained herein.

    Forward-Looking Statements: This news release contains certain
"forward-looking statements" within the meaning of such statements under
applicable securities law. Forward-looking statements are frequently
characterized by words such as "plan", "continue", "expect", "project",
"intend", "believe", "anticipate", "estimate", "may", "will", "potential",
"proposed" and other similar words, or statements that certain events or
conditions "may" or "will" occur. These statements are only predictions.
Various assumptions were used in drawing the conclusions or making the
projections contained in the forward-looking statements throughout this news
release. Forward-looking statements are based on the opinions and estimates of
management at the date the statements are made, and are subject to a variety
of risks and uncertainties and other factors that could cause actual events or
results to differ materially from those projected in the forward-looking
statements, including the failure of the Company to close the Private
Placement. For a detailed description of the risks and uncertainties facing
the Company and its business and affairs, readers should refer to the
Company's annual financial statements and management discussion and analysis
for the year ended December 31, 2007, both of which are available at
www.sedar.com. The Company undertakes no obligation to update forward-looking
statements if circumstances or management's estimates or opinions should
change, unless required by law. The reader is cautioned not to place undue
reliance on forward-looking statements.





For further information:

For further information: concerning this press release, please contact:
Eric Tremblay, Chief Executive Officer, Aston Hill Financial Inc., (403)
770-4817; Larry Titley, Vice President and CFO, Aston Hill Financial Inc.,
(403) 770-4808

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Aston Hill Financial Inc.

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