Aston Hill is Selected to Sub-Advise IA Clarington Funds

Calgary, July 4, 2008 - Aston Hill Financial Inc. (the "Company" or "Aston Hill") (TSXV: AHF) is pleased to announce that Catapult Financial Management Inc. (“Catapult”), a wholly owned subsidiary of Aston Hill, has been appointed as subadvisor to IA Clarington Tactical Income Fund (formerly IA Clarington Income Trust Fund) (“Tactical Income Fund”) effective July 4, 2008 and to IA Clarington Global Income Fund (“Global Income Fund”), replacing the current sub-advisors to the Global Income Fund, effective September 15, 2008. The portfolio management team will be headed by Aston Hill President, Ben Cheng and Joanne Hruska, Vice President, Portfolio Management.

The name change from IA Clarington Income Trust Fund to IA Clarington Tactical Income Fund will occur on July 4, 2008. At the same time, the investment strategies of the Tactical Income Fund will be amended to reflect that it will generally seek to invest approximately two-thirds of its portfolio in equity securities and trust units and about one third in fixed income securities, cash and cash equivalents.

About IA Clarington
IA Clarington Investments Inc., a subsidiary of Industrial Alliance Insurance and Financial Services Inc., markets a wide range of investment products, including mutual funds, segregated funds, principal protected notes and closed end funds managed by leading portfolio managers. IA Clarington and its subsidiaries managed approximately $7.9 billion in assets as at May 31, 2008.

About Aston Hill
Aston Hill, together with its subsidiaries, is an investment manager specializing in high yield income products and the purchase and development of Canadian oil and gas assets and securities for retail and institutional clients. Aston Hill currently manages approximately $750 million in assets, over 8,000 BOE/d of physical oil and gas production and 70 employees.

Forward-Looking Statements: This news release contains certain "forward-looking statements" within the meaning of such statements under applicable securities law. Forward-looking statements are frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Various assumptions were used in drawing the conclusions or
making the projections contained in the forward-looking statements throughout this news release. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements, including the risk that the Private Placement is not approved, in whole or in part, by the TSX Venture Exchange, and the possibility that subsequent closings are not completed in relation to the Private Placement.

For a detailed description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's annual financial statements and management discussion and analysis for the year ended December 31, 2007, both of which are available at www.sedar.com. The Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking statements.

For further information concerning this press release, please contact:

Eric Tremblay
Chief Executive Officer
Aston Hill Financial Inc.
(403) 770-4817

Ben Cheng
President
Aston Hill Financial Inc.
(416) 861-9152

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

 

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