Overlord Announces Appointment of Ben Cheng

CALGARY, December 1, 2006 - Overlord Financial Inc. (“Overlord”) is pleased to announce the appointment of Mr. Ben Cheng as President of Aston Hill Financial Ltd. (“Aston Hill”) a wholly-owned subsidiary of Overlord. Overlord is listed on the TSX Venture Exchange under the ticker symbol OFI.

Mr. Cheng, former Managing Director of Fortress Investment Group LLC, a premier New York based private equity and hedge fund company, managed Canada’s first collateralized debt obligation product backed by a diversified portfolio of income trusts and equities. Prior to Fortress, Mr. Cheng was Vice President and Portfolio Manager for CI Funds – Signature High Income Fund, one of Canada’s largest income trust and high yield funds. Mr. Cheng also co-managed the CI Signature Dividend Fund, which invested primarily in preferred equities and dividend paying common shares.

As President of Aston Hill, Mr. Cheng and his team will focus initially on investments in dividend paying common shares, income trusts and other yield vehicles. Other duties will include marketing and managing a new breed of structured products. Aston Hill is currently negotiating a Toronto office lease scheduled for opening on February 1, 2007. The Calgary office will continue to focus on unique energy-related opportunities for Canadian retail and pension fund investors.

Overlord is an investment manager with expertise in the junior oil and gas sector, energy-based trusts, oil and gas property management, private equity and high-yield structured products.

For further information concerning this press release, please contact:

Eric Tremblay
Executive Chairman
Overlord Financial Inc.
(403) 770-4817

Larry Titley
Vice President and CFO
Overlord Financial Inc.
(403) 770-4808

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

 

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