Jovian Subsidiary to Acquire Control of Horizons Funds Inc.

Date: Monday, August 15, 2005
Author: Canada News Wire

TORONTO, Aug. 15 /CNW/ - Jovian Capital Corporation ("Jovian")  
(JVN: TSX-V) and Horizons Funds Inc. ("Horizons") jointly announce that
Jovian's wholly-owned subsidiary Jovian Asset Management Inc. ("JAMI") has
entered into an agreement in principle to acquire control of Horizons, a
leading-edge developer and distributor of investment fund products that
specializes in innovative investing strategies. The transaction is expected to
close within 90 days, subject to due diligence and regulatory approval.
    Horizons manages, distributes and acts as trustee for 3 open-ended, Full
Prospectus Hedge Funds: Horizons Mondiale Hedge Fund; Horizons Tactical Hedge
Fund; and Horizons Phoenix Hedge Fund, as well as for Horizons Diversified
Fund, whose securities are sold in the prospectus exempt markets. Currently,
Horizons has assets under management of approximately $150 Million.
    Horizons Mondiale Hedge Fund, the largest fund, has been in existence
since 1997 and is managed using systematic, trend following strategies with
strong risk controls. Horizons Mondiale Hedge Fund has delivered an annualized
return of 8.3% since inception with limited negative volatility.

    About Jovian Capital Corporation
    Jovian is a publicly-traded company listed on the TSX Venture Exchange
(JVN). 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 over 87 locations and more than $8.0 billion of client
assets.

    (*) Wealth management entities include Convoy Capital Corporation,
    Gibraltar Alternative Asset Consulting Group Inc., MGI Securities Inc.,
    Rice Financial Group Inc. and T.E. Financial Consultants Ltd./Conseillers
    Financiers T.E. Ltee. (xx) Asset management entities include Accumulus
    Management Ltd., DeltaOne Capital Partners Corp. (Canada), Jove
    Investment Management Inc., Jovian Asset Management Inc., Leon Frazer &
    Associates Inc., Pescara Partners Inc., Taliesin Capital Inc. and T.E.
    Investment Counsel Inc. Financial corporate service entities include
    Felcom Data Services Inc. and Services Felcom Data (Quebec) Inc./Felcom
    Data Services (Quebec) Inc.

    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this release.

For further information: Don Sangster, Investor Relations, Jovian 
Capital Corporation, (416) 864-2624