Jovian Announces Exercise of Over-Allotment Option on Horizons AlphaPro
Income Plus Fund

TORONTO, Dec. 23 /CNW/ - Jovian Capital Corporation ("Jovian") (JOV:TSX) and its subsidiary AlphaPro Management Inc. ("AlphaPro") are pleased to announce that the syndicate of agents for the initial public offering of the Horizons AlphaPro Income Plus Fund (the "Fund") has exercised the over-allotment option for an additional 172,000 Class A units of the Fund. In total, the Fund has issued approximately 3.1 million Class A and Class F units, for gross proceeds of approximately $31.2 million. Concurrently with this closing of the over-allotment option, all of the Class A units have split into Class A trust units and Class A purchase warrants, which are now trading separately on the Toronto Stock Exchange ("TSX") under the symbols HAP.UN and HAP.WT, respectively. The Class A units previously traded on the TSX under the symbol HAP.A have been delisted effective today.

The previously issued Class F units have also split into Class F trust units and Class F purchase warrants, though neither of these have traded or will trade on the TSX.

The Fund is expected to automatically convert, subject to regulatory approval, into an actively managed exchange traded fund between January 31, 2011, and May 31, 2011.

The Fund was created to provide investors with both semi-annual distributions and the opportunity for capital appreciation in periods of inflation and deflation by tactically allocating its exposure amongst U.S. Treasury bonds and Treasury Inflation-Protected Securities ("TIPs"), commodities and money market securities. Trading in Canadian dollars, the Fund seeks to hedge its foreign currency exposure at all times. Barclays Capital Inc., through its investment advisory unit, Barclays Capital Fund Solutions - Americas ("Barclays"), has been retained by JovInvestment Management Inc. ("JovInvestment"), the portfolio manager of the Fund, as the investment sub-advisor of the Fund. Barclays advises JovInvestment on the tactical allocation of the exposure of the Fund among three asset classes: (i) U.S. Treasury bonds and TIPs; (ii) commodities; and (iii) money market securities.

Barclays seeks to optimize the Fund's exposure by means of its proprietary, multi-stage allocation methodology, which assesses fundamental and technical factors (including, but not limited to, aggregate supply and demand, global economic growth, price momentum and general market trends).

The syndicate of agents for the offering was co-led by CIBC World Markets Inc., BMO Nesbitt Burns Inc. and RBC Dominion Securities Inc., and included National Bank Financial Inc., Scotia Capital Inc., HSBC Securities (Canada) Inc., Raymond James Ltd., Wellington West Capital Markets Inc., Canaccord Financial Ltd., Desjardins Securities Inc., Dundee Securities Corporation, GMP Securities L.P., MGI Securities Inc., Blackmont Capital Inc. and Research Capital Corporation.

A copy of the Fund's final prospectus is available on AlphaPro's website www.HAPETFs.com.

About AlphaPro Management Inc. (www.HAPETFs.com)

AlphaPro is an innovative financial services company specializing in actively managed ETFs with approximately $135 million in assets under management. AlphaPro is a subsidiary of BetaPro Management Inc. ("BetaPro"). BetaPro is Canada's largest provider of leveraged, inverse leveraged and inverse ETFs. BetaPro manages approximately $2.6 billion in assets in the BetaPro ETFs. BetaPro is a subsidiary of 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 (AlphaPro Management Inc., BetaPro Management Inc., Horizons Exchange Traded Funds Inc., Horizons Funds Inc., JovFunds Management Inc., JovInvestment Management Inc., Leon Frazer & Associates Inc., MGI Financial Inc., MGI Securities Inc., MGI Securities (USA) Inc. and T.E. Wealth) manages $11.5 billion of client assets ($6.8 billion in assets under management and $4.7 billion in assets under administration). Additional information is available at www.joviancapital.com and www.sedar.com.

About Barclays

Barclays Bank PLC ("Barclays Bank") is a major global financial services provider engaged in retail and commercial banking, credit cards, investment banking, wealth management and investment management services with an extensive international presence in Europe, the Americas, Africa and Asia. With over 300 years of history and expertise in banking, Barclays Bank operates in over 50 countries and employs approximately 145,000 people. Barclays Bank moves, lends, invests and protects money for more than 49 million customers and clients worldwide. The investment banking division of Barclays Bank operates globally under the name Barclays Capital, and operates in the United States through Barclays Capital Inc. Barclays Capital provides large corporate, government and institutional clients with a full spectrum of solutions to their strategic advisory, financing and risk management needs. Barclays Capital Fund Solutions ("BCFS"), the global asset management business within Barclays Capital, has globally in excess of US$5.9 billion in investment strategies and customized solutions. Barclays is a newly-formed asset management and investment advisory business in the BCFS global family.

SOURCE Jovian Capital Corporation

For further information: For further information: Ken McCord, President, AlphaPro Management Inc., (416) 933-5746 or 1-866-641-5739; or Don Sangster, Investor Relations, Jovian Capital Corporation, (416) 933-5744; or Philip Armstrong, Chief Executive Officer, Jovian Capital Corporation, (416) 933-5752; or Martin Fabregas, Sr. Vice President - Sales Operations, Horizons Exchange Traded Funds Inc., (416) 601-2508

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Jovian Capital Corporation

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AlphaPro Management Inc.

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