Aston Hill / Overlord Signs Advisory Agreement

CALGARY, February 1, 2007 - Overlord Financial Inc. (“Overlord”) is pleased to announce that its wholly
owned subsidiary, Aston Hill Financial Ltd. (“Aston Hill”) has signed an Advisory Agreement with
Arrow Hedge Partners Inc. (“Arrow Hedge”).

Mr. Ben Cheng, President of Toronto based subsidiary Aston Hill, will provide portfolio advisory
services to Arrow Hedge on its new fund, Arrow Canadian Income Fund (the “Fund”). The investment objective of the Fund is to achieve a high level of income and potential capital gains with an attractive risk-adjusted return with moderate volatility. Mr. Cheng’s “bottom-up” research approach will concentrate on companies with defensible niche markets with strong cash flow and compelling growth prospects. Mr. Cheng will rely upon his experiences gained managing multi-billion dollar high income portfolios with one of Canada’s premier mutual fund companies, and Canada’s only income trust collateralized debt obligation (“CDO”). Mr. Cheng will also rely upon Overlord’s in depth knowledge of the Canadian income trust industry through the experiences of Eric Tremblay and Joanne Hruska in the Calgary office. Mr. Tremblay was one of the pioneers of the income trust market and has worked in the sector since 1993. Ms. Hruska is a Portfolio Manager specializing in Energy. The new Arrow Canadian Income Fund will be available for purchase by accredited investors on February 1, 2007.

Arrow Hedge is an investment management company that specializes in providing access to high-quality hedge fund managers and multi-manager funds of funds to a wide range of clients, including institutions, pension funds and high net-worth individuals. Arrow Hedge is a member of AIMA (Alternative Investment Management Association) and is a substantial co-investor in its own funds. Headquartered in Toronto, with sales offices in Vancouver, Calgary, Montreal and Geneva, Arrow Hedge currently manages over CDN $750 million on behalf of high net-worth and institutional investors globally.

Overlord is listed on the TSX Venture Exchange under the ticker symbol OFI. 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
Chief Executive Officer
Overlord Financial Inc.
(403) 770-4817

Ben Cheng
President
Aston Hill Financial Ltd.
(403) 770-4829

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

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