Aston Hill is selected to sub-advise IA Clarington Funds

    CALGARY, July 4 /CNW/ - Aston Hill Financial Inc. (the "Company" or
"Aston Hill") (TSXV: AHF) is pleased to announce that Catapult Financial
Management Inc. ("Catapult"), a wholly owned subsidiary of Aston Hill, has
been appointed as sub-advisor to IA Clarington Tactical Income Fund (formerly
IA Clarington Income Trust Fund) ("Tactical Income Fund") effective 
July 4, 2008 and to IA Clarington Global Income Fund ("Global Income Fund"),
replacing the current sub-advisors to the Global Income Fund, effective
September 15, 2008. The portfolio management team will be headed by Aston Hill
President, Ben Cheng and Joanne Hruska, Vice President, Portfolio Management.
    The name change from IA Clarington Income Trust Fund to IA Clarington
Tactical Income Fund will occur on July 4, 2008. At the same time, the
investment strategies of the Tactical Income Fund will be amended to reflect
that it will generally seek to invest approximately two-thirds of its
portfolio in equity securities and trust units and about one third in fixed
income securities, cash and cash equivalents.

    About IA Clarington

    IA Clarington Investments Inc., a subsidiary of Industrial Alliance
Insurance and Financial Services Inc., markets a wide range of investment
products, including mutual funds, segregated funds, principal protected notes
and closed end funds managed by leading portfolio managers. IA Clarington and
its subsidiaries managed approximately $7.9 billion in assets as at 
May 31, 2008.

    About Aston Hill

    Aston Hill, together with its subsidiaries, is an investment manager
specializing in high yield income products and the purchase and development of
Canadian oil and gas assets and securities for retail and institutional
clients. Aston Hill currently manages approximately $750 million in assets,
over 8,000 BOE/d of physical oil and gas production and 70 employees.

    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy and accuracy of this release.

    Forward-Looking Statements: This news release contains certain
"forward-looking statements" within the meaning of such statements under
applicable securities law. Forward-looking statements are frequently
characterized by words such as "plan", "continue", "expect", "project",
"intend", "believe", "anticipate", "estimate", "may", "will", "potential",
"proposed" and other similar words, or statements that certain events or
conditions "may" or "will" occur. These statements are only predictions.
Various assumptions were used in drawing the conclusions or making the
projections contained in the forward-looking statements throughout this news
release. Forward-looking statements are based on the opinions and estimates of
management at the date the statements are made, and are subject to a variety
of risks and uncertainties and other factors that could cause actual events or
results to differ materially from those projected in the forward-looking
statements, including the risk that the Private Placement is not approved, in
whole or in part, by the TSX Venture Exchange, and the possibility that
subsequent closings are not completed in relation to the Private Placement.
    For a detailed description of the risks and uncertainties facing the
Company and its business and affairs, readers should refer to the Company's
annual financial statements and management discussion and analysis for the
year ended December 31, 2007, both of which are available at
The Company undertakes no obligation to update forward-looking statements if
circumstances or management's estimates or opinions should change, unless
required by law. The reader is cautioned not to place undue reliance on
forward-looking statements.

For further information:

For further information: Eric Tremblay, Chief Executive Officer, Aston
Hill Financial Inc., (403) 770-4817; Ben Cheng, President, Aston Hill
Financial Inc., (416) 861-9152; Company website:

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