Spartan is pleased to announce the launch of the Teraz Fund

announce the launch of the Teraz Fund. Teraz' objective is to provide investors with

long term capital growth by investing in a diversified portfolio of Canadian smalland

micro-cap companies.

The Fund invests utilizing 3 strategies: long positions in early stage companies run

by successful entrepreneurs, including start-ups, listed cash-rich shells and merger

and acquisition candidates; opportunistic investing, including deep value, arbitrage,

theme investing and technical trading; and short positions in companies with

suspected fraud, questionable management and over-promotion. Individual

positions are limited to 5% of the Fund, based on cost. No investments are made in

private companies and no leverage is used.

Teraz' Chief Analyst & Strategist is Mark Zaret. Since 2003 Mr. Zaret has been the

principal of Teraz Holdings Inc., a private investment company that trades equities

(long and short), options, currencies, futures, provides equity to start-ups and offers

financial consulting services to corporations. Mr. Zaret has traded successfully for

over 20 years, having achieved a long term growth rate of over 20% annualized. He

has developed his own proprietary databases and comprehensive approach to

investing. Mark is a graduate of The University of Western Ontario and York

University.

More information about the Teraz Fund, including monthly reports, can be found on

Contact:

Gary Ostoich

gostoich@spartanfunds.ca

100 Wellington Street West, Suite 2101

Toronto, Ontario M5K 1J3

T: (416)601-3171