O'Leary Founder's Series Income & Growth Fund files final prospectus for a
maximum of $200 million of Units

TORONTO, Sept. 30 /CNW/ - O'Leary Funds Management LP is pleased to announce that a final prospectus for the initial public offering of the O'Leary Founder's Series Income & Growth Fund (the "Fund") has been filed with, and a receipt therefore issued by, the securities regulatory authorities in each of the provinces of Canada. The offering is expected to close on October 23, 2009.

The Fund is an investment trust governed by the laws of the Province of Ontario which proposes to issue units (the "Units") of the Fund (the "Offering") at a price of $12.00 per Unit. Each Unit consists of one transferable trust unit ("Trust Unit") and one Trust Unit purchase warrant ("Warrant"). The Units will separate into Trust Units and Warrants upon the earlier of the closing of the Over-Allotment Option and the 30th day following the closing of the Offering. Each Warrant entitles the holder to purchase one Trust Unit at a subscription price of $11.50 on or before 5:00 p.m. (Toronto time) on September 30, 2010 (the "Warrant Expiry Time"). Warrants not exercised by the Warrant Expiry Time will be void and of no value.

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. The Fund intends to invest in global bonds and preferred securities. These securities are largely institutionally-traded and denominated in foreign currencies. As a result, these securities are often difficult for most retail investors to purchase. The Fund will also invest in dividend-paying common equities, which Stanton Asset Management Inc. ("Stanton" or the "Portfolio Advisor") believes is an attractive strategy during a period of uncertain corporate earnings, to earn dividend income and remain positioned to participate in potential corporate earnings and capital appreciation. The Fund will also hedge foreign currency and adjust portfolio allocations across these different types of securities to seek to capitalize on developments in market conditions, in order to generate income and potential capital appreciation.

The Fund will permit investors to capitalize on the knowledge and capabilities of Stanton and Savtrev, Inc. ("O'Leary") who will work together to identify securities providing income and the potential for capital appreciation. The Portfolio Advisor and O'Leary believe that the Fund will provide investors with the opportunity to earn attractive income and total returns, while diversifying risk.

    
    The Fund's investment objectives are:

    (i)  to maximize total return for holders of Trust Units ("Unitholders"),
         consisting of distributions, interest and dividend income and
         capital appreciation; and

    (ii) 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).
    

On or about November 1, 2010, the Fund will become an open-end mutual fund, the Trust Units of the Fund will be delisted and the Trust Units will become redeemable at their net asset value per Trust Unit on a daily basis.

The syndicate of agents is co-led by CIBC World Markets Inc. and RBC Capital Markets and includes BMO Capital Markets, National Bank Financial Inc., Scotia Capital Inc., Blackmont Capital Inc., GMP Securities L.P., HSBC Securities (Canada) Inc., Canaccord Capital Corporation, Desjardins Securities Inc., Dundee Securities Corporation, Manulife Securities Incorporated, MGI Securities Inc., Raymond James Ltd., Research Capital Corporation and Wellington West Capital Markets Inc.

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.

This offering is only made by a prospectus dated September 28, 2009. The prospectus contains important information relating to these securities. Copies of the prospectus may be obtained from any of the Agents. Investors should read the prospectus before making an investment decision.

All capitalized terms noted herein but not defined are as per the prospectus dated September 28, 2009.

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

For further information: For further information: For media inquiries or additional information: please contact O'Leary Funds at info@olearyfunds.com or at 1-877-849-2004 x226

Organization Profile

O'LEARY FOUNDER'S SERIES INCOME & GROWTH FUND

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