Yield Advantaged Convertible Debentures Fund Extends Termination Date

MONTREAL, Jan. 10 /CNW/ - O'Leary Funds Management LP (the "Manager") announced today that the Yield Advantaged Convertible Debentures Fund (the "Fund") has extended its termination date (the "Termination Date"). 

The Termination Date of the Fund has been extended from February 28, 2013 to February 28, 2014.  In connection with the extension of the Termination Date, the Fund will now provide holder of units ("Units") of the Fund ("Unitholders") with the ability to redeem their Units on August 30, 2012 and 2013 at net asset value per Unit less any costs and expenses incurred by the Fund in connection with funding the redemption.  Details regarding the process for exercising the additional redemption right will be included in the final prospectus of the Fund.

The Fund is an investment trust governed by the laws of the Province of Ontario and was created to provide Unitholders with exposure to publicly-traded convertible debentures of global and Canadian issuers. The Fund's investment objectives are to: (i) provide Unitholders with monthly tax-advantaged distributions consisting initially primarily of returns of capital targeted to be $0.07 per Unit ($0.84 per annum representing an annual cash distribution of 7% based on the $12.00 per Unit issue price); (ii) maximize total return for Unitholders; and (iii) preserve capital.

The Manager has retained Stanton Asset Management Inc. (the "Portfolio Advisor") to provide investment advisory services to the Fund. The Portfolio Advisor is a Canadian investment firm focused on global investment opportunities, and is also the manager of a variety of specialized funds.

The syndicate of agents is led by CIBC and includes National Bank Financial Inc., Scotia Capital Inc., BMO Nesbitt Burns Inc., Macquarie Private Wealth Inc., Canaccord Genuity Corp., Raymond James Ltd., Wellington West Capital Markets Inc., HSBC Securities (Canada) Inc., Desjardins Securities Inc., Mackie Research Capital Corporation, Manulife Securities Incorporated and MGI Securities Inc. (collectively, the "Agents").

Certain statements included in this news release constitute forward-looking statements, including, but not limited to, those identified by the expressions "expect", "intend", "will" and similar expressions to the extent they relate to the Fund. The forward-looking statements are not historical facts but reflect the Manager's current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Although the Manager believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. The Manager undertakes no obligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other such factors which affect this information, except as required by law.

A preliminary prospectus dated December 29, 2010 containing important information relating to these securities has been filed with securities commissions or similar authorities in certain jurisdictions of Canada. The preliminary prospectus is still subject to completion or amendment. Copies of the preliminary prospectus may be obtained from any of the Agents. There will not be any sale or any acceptance of an offer to buy the securities until a receipt for the preliminary prospectus has been issued.

All capitalized terms noted herein but not defined are as per the preliminary prospectus dated December 29, 2010.

SOURCE Yield Advantaged Convertible Debentures Fund

For further information:

for media inquiries or additional information: please contact O'Leary Funds at info@olearyfunds.com or at 1-877-849-2004 x226.

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Yield Advantaged Convertible Debentures Fund

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