Marret High Yield Strategies Fund Announces Filing of Preliminary Short Form
Prospectus

/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/

TORONTO, Sept. 20 /CNW/ - Marret Asset Management Inc. is pleased to announce that Marret High Yield Strategies Fund (TSX: MHY.UN) (the "Fund") has filed a preliminary short form prospectus in each of the provinces of Canada with respect to an additional offering of units of the Fund.

The Fund seeks to achieve the following investment objectives: (i) to maximize total returns for unitholders consisting of both tax-advantaged distributions and capital appreciation, while reducing risk; and (ii) to provide unitholders with attractive monthly tax-advantaged cash distributions.

The syndicate of agents for the offering is co-led by GMP Securities L.P., TD Securities Inc. CIBC World Markets Inc. and RBC Capital Markets and includes BMO Capital Markets, National Bank Financial Inc., Scotia Capital Inc., Dundee Securities Corporation, HSBC Securities (Canada) Inc., Canaccord Genuity Corporation, Raymond James Ltd., Macquarie Capital Markets Canada, Manulife Securities Incorporated and Wellington West Capital Markets Inc.

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

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Marret Asset Management Inc.:

Marret Asset Management Inc. is an employee-owned firm based in Toronto and has over $4.7 billion of assets under management. Marret and its experienced team of investment professionals led by Barry Allan specialize exclusively in fixed income and, particularly, in high yield debt strategies. Barry Allan, the President and Chief Investment Officer, founded Marret in 2000, following a career at Altamira, Nesbitt Thomson and a Canadian chartered bank. Mr. Allan has over 25 years of experience in credit and fixed income markets.

This press release contains forward-looking statements and information within the meaning of applicable securities legislation. Forward-looking statements can be identified by the expressions "seeks", "expects", "believes", "estimates", "will", "target" and similar expressions. The forward-looking statements are not historical facts but reflect the Marret Asset Management Inc.'s current expectations regarding future results or events and are based on information currently available to Management. Certain material factors and assumptions were applied in providing these forward-looking statements. All forward-looking statements in this press release are qualified by these cautionary statements.

Management believes that the expectations reflected in forward-looking statements are based upon reasonable assumptions; however, Management can give no assurance that the actual results or developments will be realized. 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, including the matters discussed under "Risks Factors" in the Fund's current Annual Information Form. Readers, therefore, should not place undue reliance on any such forward-looking statements. Further, a forward-looking statement speaks only as of the date on which such statement is made. Marret Asset Management Inc. and the Fund undertake no obligation to publicly update any such statement or to reflect new information or the occurrence of future events or circumstances except as required by securities laws.

These forward-looking statements are made as of the date of this press release.

For further information:

Marret Asset Management Inc.:  [phone]; www.marret.ca