Hesperian Capital Management Ltd. Declares Eligible Dividend to Shareholders of the Norrep Income Growth Class



    CALGARY, Jan. 30 /CNW/ - Hesperian Capital Management Ltd. ("Hesperian"),
the manager of a strategically focused group of public mutual funds and
limited partnerships (the Norrep Group of Funds), announced today that it has
declared a dividend of $0.06 per common share for the Norrep Income Growth
Class. This dividend is payable on January 30, 2009 to shareholders of record
at the close of business on January 29, 2009.
    Hesperian Capital Management Ltd. hereby advises that this dividend is
designated to be an "eligible dividend" pursuant to subsection 89(14) of the
Income Tax Act (Canada) and corresponding provincial legislation. Shareholders
with questions regarding the tax treatment of dividends should consult with
their own tax advisors or contact their local office of the Canada Revenue
Agency and, where applicable, the provincial taxation authorities.

    Hesperian Capital Management Ltd. is a Calgary-based investment firm with
approximately $360 million in assets under management. Please visit
www.hesperiancapital.com for more details about Hesperian and the Norrep Group
of Funds.

    Certain information set forth in this press release, including a
discussion of future plans and operations, contains forward-looking statements
that involve substantial known and unknown risks and uncertainties. These
forward-looking statements are subject to numerous risks and uncertainties,
some of which are beyond management's control, including but not limited to,
the impact of general economic conditions, industry conditions, fluctuation of
commodity prices, fluctuation of foreign exchange rates, environmental risks
industry competition, availability of qualified personnel and management,
stock market volatility, timely and cost effective access to sufficient
capital from internal and external sources. Actual results, performance or
achievement could differ from those expressed in or implied by these
forward-looking statements.

    %SEDAR: 00017183E




For further information:

For further information: Richard Rohan, Vice President of Business
Development, Hesperian Capital Management Ltd., (403) 537-5709,
richard@hesperiancapital.com

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NORREP

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HESPERIAN

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