O'Leary Founder's Series Income & Growth Fund Announces Monthly Distribution
Amount

TORONTO, Dec. 7 /CNW/ - O'Leary Funds Management LP, the manager of O'Leary Founder's Series Income & Growth Fund (TSX: OFS.un/OFS.wt) (the "Fund"), is pleased to announce an expected monthly distribution amount for the following twelve months commencing November 30, 2009 of $0.06 per trust unit ("Trust Unit") of the Fund ($0.72 per annum). The first monthly regular distribution of $0.06 per Trust Unit will be paid to holders of Trust Units ("Unitholders") of record as of November 30, 2009 and is expected to be paid on or before December 15, 2009.

The Fund has been created to invest in an actively managed portfolio comprised primarily of publicly-traded corporate bonds, preferred securities and dividend-paying common equity securities of mid and large-cap Canadian and global issuers, providing investors with both income and potential for capital appreciation. Stanton Asset Management Inc. ("Stanton") believes that current market conditions offer attractive opportunities to invest in corporate bonds and preferred securities by capitalizing on historically attractive interest rate spreads compared to government bonds and securities prices that have yet to fully recover from recent market conditions. The Fund will permit investors to capitalize on current market opportunities and the knowledge and capabilities of Stanton and Savtrev, Inc. who will work together to identify securities providing income and the potential for capital appreciation.

The Fund's investment objectives are:

(a) to maximize total return for Unitholders, consisting of distributions, interest and dividend income and capital appreciation; and

(b) to provide Unitholders with monthly distributions initially targeted to be $0.06 per Trust Unit ($0.72 per annum representing an annual cash distribution of 6.0% based on the $12.00 per Unit issue price).

Certain statements included in this news release constitute forward-looking statements, including, but not limited to, those identified by the expressions ''expect'', ''intend'', "will" and similar expressions to the extent they relate to the Fund. The forward-looking statements are not historical facts but reflect O'Leary Funds Management LP's current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Although O'Leary Funds Management LP believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. O'Leary Funds Management LP undertakes no obligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other such factors which affect this information, except as required by law.

SOURCE O'LEARY FOUNDER'S SERIES INCOME & GROWTH FUND

For further information: For further information: please contact Investor Relations for O'Leary Funds at (877) 849-2004 x226 or info@olearyfunds.com or visit www.olearyfunds.com

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O'LEARY FOUNDER'S SERIES INCOME & GROWTH FUND

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