Shareholders Approve Private Placement, Amendments to Plans, Increased Board

    TORONTO, Jan. 29 /CNW/ - Jovian Capital Corporation ("Jovian") (JOV: TSX)
is pleased to announce that the shareholders of Jovian have overwhelmingly
approved the proposed private placement by 1189591 Alberta Ltd., which is
majority owned and controlled by Calgary businessman N. Murray Edwards, of
32,350,000 common shares of Jovian at a price of $0.80 per share, for a total
consideration of approximately $25,880,000. Approval was obtained at a special
meeting of shareholders held today in Toronto. The transaction is expected to
close shortly.
    At the same meeting, shareholders also approved amendments to Jovian's
Employee Share Purchase Plan and Employee Stock Option Plan, as well as an
increase to Jovian's board from eight (8) to nine (9) Directors.
    Jovian also announces that it has received conditional regulatory
approval for its previously announced acquisition of an additional 6% interest
in BetaPro Management Inc., in exchange for the issuance to the vendor of
2,612,000 common shares in the capital stock of Jovian at a price of $0.80 per
share. This transaction is expected to close in the next few weeks, and will
increase Jovian's interest in BetaPro Management Inc. to 39%.

    About Jovian Capital Corporation

    Jovian is a publicly-traded company listed on the TSX (JOV). Jovian is a
management and holding company with interests in a variety of financial
service firms specializing in wealth(*) and asset(xx) management. The Jovian
group of companies operates as a national financial services organization with
approximately $14.4 billion of client assets ($5.4 billion in assets under
management and $9.0 billion in assets under administration).

    (*) Wealth management entities include MGI Securities Inc., MGI
    Securities (USA) Inc. and Rice Financial Group Inc. (xx) Asset management
    entities include BetaPro Management Inc., Horizons Funds Inc., JovFunds
    Management Inc., JovFunds Inc., JovInvestment Management Inc., Leon
    Frazer & Associates Inc. and T.E. Wealth. Financial corporate service
    entities include Felcom Data Services Inc.

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

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) 933-5752; Additional information
relating to Jovian is available at and

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