O'Leary Global Equity Income Fund Announces Monthly Distribution Amount

TORONTO, July 15 /CNW/ - O'Leary Funds Management LP, the manager of O'Leary Global Equity Income Fund (TSX: OGE.un) (the "Fund"), is pleased to announce an expected monthly distribution amount for the following twelve months commencing August 31, 2010 of $0.05 per trust unit ("Trust Unit") of the Fund ($0.60 per annum). This monthly distribution amount remains the same as the monthly distribution paid by the Fund since its inception.

The Fund has been created to invest primarily in global income-generating equity securities. The Fund's investment objectives are to: (i) provide unitholders with monthly distributions initially targeted to be $0.05 per Trust Unit ($0.60 per annum representing an annual cash distribution of 5% based on the $12.00 per unit issue price); and (ii) provide long-term capital appreciation.

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 GLOBAL EQUITY INCOME FUND

For further information: For further information: 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 GLOBAL EQUITY INCOME FUND

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