Jovian Announces Termination of Tailwind Arrangement Agreement

    TORONTO, April 6 /CNW/ - Jovian Capital Corporation ("Jovian") (TSX: JOV)
and wholly-owned subsidiary JovFunds Management Inc. ("JovFunds") announce
that, further to the announcement of January 26, 2009, the arrangement
agreement between Allen-Vanguard Corporation and Tailwind Financial Inc.
("Tailwind"), a special purpose acquisition company in which Jovian has an
indirect interest, will not be pursued. Attached below is the full text of the
press release issued by Tailwind. Jovian has not reviewed and does not accept
responsibility for the adequacy or accuracy of that release.
    JovFunds owns 44% of Parkwood Holdings Ltd., which has an indirect
interest in Tailwind. JovFunds' total investment in Tailwind, including
directly-held non-refundable securities and its share of various operating and
regulatory costs to date, is approximately $3.5 million CAD. Jovian expects to
reserve approximately $3.5 million CAD in its fourth quarter ended March 2009
in connection with this investment.

    About Jovian Capital Corporation (

    Jovian acquires, creates and grows financial services companies
specializing in wealth and asset management. The Jovian group of companies
(AlphaPro Management Inc., BetaPro Management Inc., Horizons Funds Inc.,
JovFunds Inc., JovFunds Management Inc., JovInvestment Management Inc., Leon
Frazer & Associates Inc., MGI Securities (USA) Inc., MGI Wealth, T.E. Wealth
and Felcom Data Services Inc.) manages approximately $12.0 billion of client
assets ($6.5 billion in assets under management and $5.5 billion in assets
under administration). Additional information is available at and


    NEW YORK, NY: April 6, 2009: Tailwind Financial Inc. (NYSE Alternext US:
TNF, TNF.U, TNF.WS) ("Tailwind" or the "Company"), a special purpose
acquisition corporation, today announced that it will no longer pursue the
acquisition of Allen-Vanguard Corporation, as contemplated by its previously
announced Arrangement Agreement with Allen-Vanguard.
    Tailwind has cancelled its special meeting of shareholders scheduled for
April 16, 2009 and pursuant to its Second Amended and Restated Certificate of
Incorporation, Tailwind will proceed with its dissolution and liquidation
since it will be unable to complete a business combination by April 17, 2009.

    About Tailwind Financial

    Tailwind was incorporated in Delaware on June 30, 2006 as a special
purpose acquisition company whose objective is to acquire, through a purchase,
asset acquisition, or other business combination, one or more operating
businesses. Tailwind completed its initial public offering on April 17, 2007
raising proceeds of US $100 million which is held in trust. All of the funds
held in Tailwind's trust account are invested in the JPMorgan 100% U.S.
Treasury Securities Money Market Fund.
    To learn more about Tailwind Financial Inc. (NYSE Alternext US: TNF,
TNF.U, TNF.WS) please visit

    Forward-Looking Statements

    Any statements contained in this press release that do not describe
historical facts may constitute forward-looking statements as that term is
defined by the United States Private Securities Litigation Reform Act of 1995.
Any such forward-looking statements contained herein are based on current
expectations, but are subject to a number of risks and uncertainties that may
cause actual results to differ materially from expectations such as material
adverse events affecting Tailwind, the ability of Tailwind to satisfy the
conditions to completion of the business combination and those other risks and
uncertainties detailed in Tailwind's filings with the Securities and Exchange

    Tailwind Financial, Inc.
    Andrew A. McKay
    Chief Executive Officer
    Tailwind Financial Inc.
    181 Bay Street, Suite 2040
    Toronto, Ontario, M5J 2T3
    Tel: (416) 601-2422
    Fax: (416) 601-2423

For further information:

For further information: Don Sangster, Investor Relations, Jovian
Capital Corporation, (416) 933-5744; or Philip Armstrong, Chief Executive
Officer, Jovian Capital Corporation, (416) 777-5752

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