HORIZONS ALPHAPRO MANAGED S&P/TSX 60(TM) ETF ANNOUNCES VOLUNTARY DE-LISTING

TORONTO, June 28, 2011 /CNW/ - Horizons Exchange Traded Funds Inc. ("Horizons ETFs"), and its affiliate AlphaPro Management Inc., the manager and trustee of the Horizons AlphaPro Managed S&P/TSX 60™ ETF ("Horizons HAX"), announce that, as at the close of business today, the units of Horizons HAX are being voluntarily de-listed from trading on the Toronto Stock Exchange (the "TSX"). The de-listing is in anticipation of the completion of the previously announced merger of Horizons HAX with Horizons AlphaPro S&P/TSX 60 Equal Weight Index ETF ("Horizons HEW")(the "Merger Transaction") on or about June 30, 2011 (the "Effective Date"), subject to the necessary regulatory approvals.

Upon completion of the Merger Transaction, unitholders of Horizons HAX will be issued units of Horizons HEW based on a ratio to be determined by the closing net asset values of the respective ETFs on the Effective Date.

For further information on the Merger Transaction, please consult the management information circular distributed to unitholders available on our website at www.horizonsetfs.com, or on the SEDAR website at www.sedar.com.

About Horizons Exchange Traded Funds Inc. (www.horizonsetfs.com)

Horizons ETFs is an innovative financial services company offering the Horizons family of exchange traded products. The Horizons family of exchange traded products includes a broadly diversified range of investment tools with solutions for investors of all experience levels to meet their investment objectives in a variety of market conditions. With approximately $3 billion in assets under management and more than 70 listings on the Toronto Stock Exchange, the Horizons family of exchange traded products makes up the largest selection of ETFs in Canada. Horizons ETFs is a member of the Jovian Capital Corporation (TSX: JOV) group of companies.

SOURCE HORIZONS EXCHANGE TRADED FUNDS INC.

For further information:

Martin Fabregas, Investor Relations, (416) 601-2508 or 1-866-641-5739.

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HORIZONS EXCHANGE TRADED FUNDS INC.

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ALPHAPRO MANAGEMENT INC.

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