Fairway Diversified Income and Growth Trust (FDT.UN), Deans Knight Income and Growth Fund (DKI.UN), Long Reserve Life Resource Fund (LRF.UN) Announce the Results of the Adjourned Special Meetings of Unitholders and Preferred Shareholders



    TORONTO, Oct. 31 /CNW/ - JovFunds Management Inc. ("JovFunds"), the
manager and trustee of Fairway Diversified Income and Growth Trust ("Fairway
Diversified"), Deans Knight Income and Growth Fund ("Deans Knight"), and Long
Reserve Life Resource Fund ("Long Reserve") (individually, a "Fund", and
collectively, the "Funds"), announces that the adjourned special meetings of
the unitholders of the Funds were held on October 30, 2008.
    Unitholders of Fairway Diversified approved resolutions that permit the
appointment of a new trustee that is an affiliate of the current trustee
without further unitholder approval, to reduce the percentage of outstanding
units required to achieve quorum at all unitholder meetings to 2%, to
eliminate the pre-set termination date of March 30, 2014, and to grant the
trustee authority to merge the Fund with one or more other funds administered
by the trustee or an affiliate of the trustee if the merger meets certain
predefined criteria.
    Unitholders of Long Reserve approved resolutions that permit the
appointment of a new trustee that is an affiliate of the current trustee
without further unitholder approval, and authorize the trustee, in the event
the Fund is converted into an open-ended mutual fund, to amend the declaration
of trust to increase the management fee, add a performance fee, issue multiple
series of units and amend its investment objectives and strategies, amongst
other changes.
    All other matters before the unitholders of Deans Knight and Long Reserve
were withdrawn by JovFunds.

    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 $2.2 billion in client assets
and is wholly owned by Jovian Capital Corporation.

    About Jovian Capital Corporation (www.joviancapital.com)

    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 $14.0 billion of client
assets ($6.0 billion in assets under management and $8.0 billion in assets
under administration). Additional information is available at
www.joviancapital.com and www.sedar.com.





For further information:

For further information: Steven Hawkins, Managing Partner, JovFunds
Management Inc., (416) 601-2442; or Don Sangster, Investor Relations, Jovian
Capital Corporation, (416) 933-5744

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JOVFUNDS MANAGEMENT INC.

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Jovian Capital Corporation

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