O'Leary Global Equity Income Fund announces normal course issuer bid March
10, 2010

TORONTO, March 10 /CNW/ - O'Leary Funds Management LP, the manager (the "Manager") of O'Leary Global Equity Income Fund (the "Fund") today announced that the Fund has commenced a normal course issuer bid to purchase a portion of the outstanding trust units (TSX: OGE.un) on the Toronto Stock Exchange ("TSX"). The purpose of the normal course issuer bid is to provide the Fund with a mechanism to decrease the potential spread between the net asset value per trust unit and the market price of the trust units and to provide enhanced liquidity for the trust units. Under the normal course issuer bid, the Fund intends to purchase up to 296,760 trust units, representing 10% of the public float of the securities issued and outstanding. These purchases will be made in accordance with applicable regulations, and will be effected through the facilities of TSX over a maximum period of 12 months commencing on March 12, 2010 and ending on the earlier of March 11, 2011 or on such date as the Fund completes its purchase under the normal course issuer bid or on such date as the Fund may otherwise determine. Trust units purchased will be cancelled. The Fund had 3,143,303 trust units issued and outstanding as at March 5, 2010. The Fund will not purchase in any given 30 day period, in the aggregate more than 62,866 trust units, being 2% of the issued and outstanding trust units as at March 5, 2010. Pursuant to the Fund's previous normal course issuer bid scheduled to end on March 11, 2010, 40,700 trust units were purchased at an average weighted price of $7.82455 per trust unit.

For further information: For further information: For media inquires or additional information: please contact Investor Relations at info@olearyfunds.com or at 877-849-2004 x226

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O'LEARY GLOBAL EQUITY INCOME FUND

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