Impax Funds Management Inc. Change of Control



    TORONTO, April 2 /CNW/ - Impax Funds Management Inc. ("Impax") is pleased
to announce that, further to its press release dated November 1, 2006, Jovian
Capital Corporation ("Jovian") (JVN: TSX-V) has completed a transaction in
which JovFunds Management Inc. (formerly Fairway Asset Management Corp.)
("JovFunds") indirectly acquired the remaining issued and outstanding shares
of Impax, and Jovian, through a wholly-owned subsidiary, indirectly acquired
the remaining issued and outstanding shares of JovFunds. Impax, the manager of
Horizons Advantaged Equity Fund Inc., is now an indirect wholly owned
subsidiary of JovFunds and, therefore, as a result of these transactions,
JovFunds and the Manager are now indirect wholly owned subsidiaries of Jovian.

    About Jovian Capital Corporation

    Jovian is a publicly-traded company listed on the TSX Venture Exchange.
Jovian is a management and holding company with interests in a variety of
financial service firms specializing in wealth(*) and asset(xx) management. The
Jovian group of companies operates as a national financial services
organization with approximately $13.5 billion of client assets ($4.9 billion
assets under management and $8.6 billion assets under administration).

    About JovFunds

    JovFunds provides investment solutions for Canadian investors through the
creation, management and distribution of high quality investment products. As
a member of the Jovian group of companies, JovFunds oversees the management
and distribution of a diverse range of investment products and currently has
over $1 billion in client assets.

    About Horizons Advantaged Equity Fund Inc.

    Horizons Advantaged Equity Fund Inc. ("Horizons") is the only
labour-sponsored venture capital fund in Ontario which focuses its investing
entirely on public companies. Horizons' investment objective is to achieve
superior long-term capital appreciation by investing primarily in a
diversified portfolio of equity and equity-like securities of listed companies
in compliance with the Community Small Business Investment Funds Act (Ontario)
(the "Act"). Horizons will invest in eligible business entities or those that
qualify as reserves pursuant to the Act, while maintaining broad
diversification across economic sectors and geographic regions.

    (*) Wealth management entities include Convoy Capital Corporation, JovFunds
Inc., MGI Securities Inc., MGI Securities (USA) Inc. and Rice Financial Group
Inc. (xx) Asset management entities include Accumulus Management Ltd., BetaPro
Management Inc., Charterhouse PSI Management Corporation, DOCP Management
Corp., Horizons Funds Inc., Jove Investment Management Inc., Jovfunds
Management Inc., Jovian Asset Management Inc., Leon Frazer & Associates Inc.,
Pescara Partners Inc., Taliesin Capital Inc., T.E. Wealth. Financial corporate
service entities include Felcom Data Services Inc. and Services Felcom Data
(Quebec) Inc./Felcom Data Services (Quebec) Inc.

    %SEDAR: 00024916E




For further information:

For further information: Don Sangster, Investor Relations, Jovian
Capital Corporation, (416) 933-5744; or Steve Hawkins, Managing Partner,
JovFunds Management Inc., 1-866-601-2440; or Please visit
www.joviancapital.com and www.jovfunds.com

Organization Profile

IMPAX FUNDS MANAGEMENT INC.

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