Horizons BetaPro Further Increases Stake in Australian ETFs Company

TORONTO, Sept. 29, 2011 /CNW/ - Horizons Exchange Traded Funds Inc. ("Horizons ETFs") and its affiliate BetaPro Management Inc. ("BetaPro"), the manager of the Horizons BetaPro exchange traded funds ("Horizons ETFs"), are pleased to announce that BetaPro has exercised its pre-emptive rights to increase its equity ownership stake in BetaShares Holdings Pty Ltd. ("BetaShares") by up to 6.1% for a subscription price of $2,000,000 (Australian).  BetaShares is a private Australian holding company whose subsidiary, BetaShares Capital Limited, offers exchange traded funds ("ETFs") on the Australian Securities Exchange.

As at August 31, 2011, BetaPro owned approximately 40% of BetaShare's equity outstanding.  As part of the subscription, BetaPro has entered into an option agreement with BetaShares entitling BetaPro (the "Option") to purchase additional shares of BetaShares sufficient to bring BetaPro's equity holdings of BetaShares to 50%. 

Adam Felesky, Chairman of Horizons ETFs said, "The continued growth and success of the BetaShares ETFs on the Australian Exchange is very encouraging.  Increasing our investment in BetaShares is one more positive step for Horizons ETFs in growing its global ETF presence."

As announced on July 15, 2011, Mirae Asset Financial Group ("Mirae Asset") has entered into a definitive agreement with Jovian Capital Corporation to become BetaPro's majority shareholder. Closing is anticipated to occur by mid-November, and is subject to several conditions including, but not limited to, regulatory and contractual consents and approvals, both domestic and foreign.  With the acquisition, Mirae Asset, one of Asia's largest asset management firms, gains a foothold in the Canadian and Australian ETF market and will be looking to BetaPro's regional expertise to help it grow its global ETF business.

About Horizons Exchange Traded Funds Inc. (www.horizonsetfs.com)

Horizons ETFs is an innovative financial services company offering the Horizons ETFs family of ETFs. The Horizons ETFs family includes a broadly diversified range of investment tools with solutions for investors of all experience levels to meet their investment objectives in a variety of market conditions. With approximately $3.3 billion in assets under management and 75 ETFs listed on the TSX, the Horizons ETFs family makes up the largest selection of ETFs in Canada. Horizons ETFs is a member of the Jovian Capital Corporation (TSX: JOV) group of companies.

SOURCE Horizons Exchange Traded Funds Inc.

For further information:

Adam Felesky, Chairman, Horizons Exchange Traded Funds Inc., (416) 933-5739

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Horizons Exchange Traded Funds Inc.

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