Nuveen Senior Floating Rate Income Fund (FSL.UN) announces approval to merge into Fairway Diversified Income And Growth Trust (FDT.UN)



    TORONTO, Aug. 21 /CNW/ - JovFunds Management Inc. ("JovFunds"), the
manager of Nuveen Senior Floating Rate Income Fund ("Nuveen"), announces that
at the special meeting of the unitholders of Nuveen held today, unitholders
approved an extraordinary resolution to merge Nuveen into Fairway Diversified
Income and Growth Trust ("Fairway Diversified"). The merger is expected to
occur on or before September 12, 2008. Subject to any necessary regulatory
approvals, including consent of the Toronto Stock Exchange, unitholders of
Nuveen will be issued units of Fairway Diversified based on the closing net
asset values on the merger date.
    "We are very pleased with the result of the meeting and expect to
complete the merger before mid-September", said Steve Hawkins, Managing
Partner of 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 $2.5 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 $16.0 billion of client
assets ($6.5 billion in assets under management and $9.5 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

Organization Profile

JOVFUNDS MANAGEMENT INC.

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NUVEEN SENIOR FLOATING RATE INCOME FUND

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