O'Leary Funds Management LP confirms that O'Leary Founder's Series Income &
Growth Fund has converted into an open-end mutual fund as of the close of
business on November 1, 2010

MONTREAL, Nov. 2 /CNW/ - O'Leary Funds Management LP, the manager and trustee (the "Manager") of O'Leary Founder's Series Income & Growth Fund (the "Fund") confirms that the Fund has completed its conversion (the "Conversion") into an open-end mutual fund as of the close of business on November 1, 2010 (the "Conversion Date").

The name, investment mandate and distribution policy of the Fund have not changed as a result of the Conversion. The trust units of the Fund (TSX: OFS.un) have been delisted from the Toronto Stock Exchange as of the close of business on the Conversion Date. These trust units have now been re-designated as the "Founder's series units" and are redeemable at their net asset value per unit on a daily basis.

The consulting agreement dated October 23, 2009 between Stanton Asset Management Inc. and Savtrev, Inc. with respect to the Fund has been terminated as of the Conversion Date.

Once all operational steps required to implement the Conversion are completed, subscriptions for additional investments and redemptions can be made via FundSERV.

Important information: Unitholder accounts which are deemed to be non-resident of a Canadian province will not be allowed to hold units of the Fund following the Conversion and accordingly, will be redeemed shortly after all of the operational steps required to implement the Conversion are completed.

For further information: for media inquiries or additional information, please contact Investor Relations at [email protected] or at 877-849-2004 x226.