O'Leary Canadian Income Opportunities Fund and O'Leary Canadian Equity Income
Fund announce special distributions

MONTREAL, Nov. 5 /CNW/ - O'Leary Funds Management LP ("O'Leary"), the manager of O'Leary Canadian Income Opportunities Fund (TSX: OCY.un/OCY.wt) and of O'Leary Canadian Equity Income Fund (TSX: OCZ.un/OCZ.wt) is pleased to announce today that it intends to pay out a special distribution of $0.60 per trust unit of OCY and $0.12 per trust unit of OCZ to unitholders of record on November 30, 2010 (the "Record Date"). The special distributions are expected to be paid on or before December 15, 2010. These special distributions are derived from realized capital gains on investments as well as other realized income sources.

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for media inquiries or additional information: please contact O'Leary Funds at [email protected] or at 1-877-849-2004 x226