TORONTO, June 2, 2011 /CNW/ - Horizons Enhanced U.S. Equity Income Fund (the "Fund") announces an extension of the Fund's exchange option (the "Exchange Option") as part of its initial public offering pursuant to the preliminary prospectus dated April 29, 2011 (the "Prospectus"). The deposit date for exchange of the freely-tradeable securities listed in the table below (each, an "Exchange Eligible Security") for the Fund's Class A units (the "Units") has been extended to June 17, 2011.

U.S. Equity Issuer Symbol CUSIP No.
3M Company MMM 88579Y101
Abbott Laboratories ABT 002824100
Altria Group, Inc. MO 02209S103
Amazon.com, Inc. AMZN 023135106
Amgen Inc. AMGN 031162100
Apple Inc. AAPL 037833100
AT&T Inc. T 00206R102
Bank of America Corporation BAC 060505104
Berkshire Hathaway Inc., Class B BRK.B 084670702
The Boeing Company BA 097023105
Caterpillar Inc. CAT 149123101
Chevron Corporation CVX 166764100
Cisco Systems, Inc. CSCO 17275R102
Citigroup Inc. C 172967101
The Coca-Cola Company KO 191216100
Comcast Corporation CMCSA 20030N101
ConocoPhillips COP 20825C104
E. I. du Pont de Nemours and Company DD 263534109
EMC Corporation EMC 268648102
Exxon Mobil Corporation XOM 30231G102
Ford Motor Company F 345370860
Freeport-McMoRan Copper & Gold Inc. FCX 35671D857
General Electric Company GE 369604103
The Goldman Sachs Group, Inc. GS 38141G104
Google Inc. GOOG 38259P508
Hewlett-Packard Company HPQ 428236103
The Home Depot, Inc. HD 437076102
Intel Indonesia Corporation INTC 458140100
International Business Machines Corporation IBM 459200101
Johnson & Johnson JNJ 478160104
JPMorgan Chase & Co. JPM 46625H100
Kraft Foods Inc. KFT 50075N104
McDonald's Corporation MCD 580135101
Merck & Co., Inc. MRK 58933Y105
Microsoft Corporation MSFT 594918104
Occidental Petroleum Corporation OXY 674599105
Oracle Corporation ORCL 68389X105
PepsiCo, Inc. PEP 713448108
Pfizer Inc. PFE 717081103
Philip Morris International Inc. PM 718172109
The Procter & Gamble Company PG 742718109
QUALCOMM Incorporated QCOM 747525103
Schlumberger Limited SLB 806857108
United Parcel Service, Inc. UPS 911312106
United Technologies Corporation UTX 913017109
UnitedHealth Group Incorporated UNH 91324P102
Verizon Communications, Inc. VZ 92343V104
Wal-Mart Stores, Inc. WMT 931142103
The Walt Disney Company DIS 254687106
Wells Fargo & Company WFC 949746101
Exchange Traded Fund Symbol CUSIP No.
BMO U.S. Equity Index ETF     ZUE - T 05570J107
Claymore U.S. Fundamental Index ETF C$ Hedged CLU - T 18387E120
Horizons S&P�� 500 Index ETF HXS - T 44048X109
iShares S&P 500® Index Fund (CAD-Hedged) XSP - T 46428J105
SPDR® S&P® 500 ETF SPY - N 78462F103

A prospective purchaser electing to use the Exchange Option now has until 5:00 p.m. (Toronto time) on June 17, 2011, to ensure that their securities are received by Computershare Investor Services Inc., as the Fund's exchange agent, through CDS Clearing and Depository Services Inc. The pricing period for the Exchange Option has also been extended and will be the five consecutive trading days ending on June 17, 2011. The exchange ratio for each Exchange Eligible Security will be announced in a press release to be issued by the Fund on or before June 20, 2011. The Exchange Option is subject to the terms and conditions set forth in the Prospectus which, except as described herein, remain in full force and effect.

The Fund's investment objectives are to provide holders of Units with: (a) the performance of an equal weighted portfolio of equity securities of large capitalization U.S. companies; (b) the opportunity for capital appreciation; (c) monthly distributions; and (d) lower overall volatility of portfolio returns than would be experienced by owning the Portfolio Securities (as defined below) without employing a covered call option strategy. The Fund will generally seek to hedge substantially all of its exposure to the U.S. dollar back to the Canadian dollar.

The Fund will invest, on an approximately equally weighted basis, in a portfolio (the "Portfolio") of securities of the 50 largest and most liquid U.S. companies, as measured by market capitalization, listed on the New York Stock Exchange or the NASDAQ Stock Market (the "Portfolio Securities"). The Portfolio will be rebalanced semi-annually on an equally weighted basis. To seek to mitigate downside risks, generate cashflow and allow for modest capital appreciation, the Fund will generally write "out-of-the-money" covered call options on 100% of the Portfolio Securities. The call options will be written with strike prices that are generally 5% above the current market price of the Portfolio Securities, with terms of one to two months depending on the prevailing levels of volatility. The Fund's strategy does not involve managing the Portfolio to achieve a specific distribution target.

The syndicate of agents for the offering is being led by CIBC and BMO Capital Markets, and includes National Bank Financial Inc., TD Securities Inc., GMP Securities L.P., HSBC Securities (Canada) Inc., Canaccord Genuity Corp., Desjardins Securities Inc., Macquarie Private Wealth Inc., Raymond James Ltd., Dundee Securities Ltd., Industrial Alliance Securities Inc., Mackie Research Capital Corporation, MGI Securities Inc., Rothenberg Capital Management Inc. and Wellington West Capital Markets Inc.

A preliminary prospectus containing important information relating to these securities has been filed with securities commissions or similar authorities in all provinces and territories of Canada. The preliminary prospectus is still subject to completion or amendment. Copies of the preliminary prospectus may be obtained from your IIROC registered financial advisor. There will not be any sale or any acceptance of an offer to buy the securities until a receipt for the final prospectus has been issued.



For further information:

For further information, please visit www.horizonsetfs.com or contact:

Ken McCord, President, AlphaPro Management Inc., (416) 933-5746 or
1-866-641-5739, kmccord@horizonsetfs.com.

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