Catapult Energy Small Cap FTS Limited Partnership Approves Roll-over Transaction

Calgary, November 4, 2008 – Catapult Energy Small Cap FTS Limited Partnership (the "Partnership") announced today that limited partners of the Partnership have approved a proposed transaction involving the transfer of the assets of the Partnership (the "Roll-over Transaction") to an open-end mutual fund corporation (the "Mutual Fund Corp.") and the other matters set forth in Exhibit "A" to the management information circular of the Partnership dated October 3, 2008. The Roll-over Transaction was approved by the required majority of the votes cast by limited partners at the special meeting of the Partnership held on October 31, 2008.  The Roll-over Transaction was also approved by the independent review committee of the Partnership.

Completion of the Roll-over Transaction remains subject to a number of conditions, some of which are beyond the Partnership's control.  Additionally, Catapult Energy 2006 Inc., the general partner of the Partnership (the "General Partner"), may determine in its sole discretion not to proceed with the Roll-over Transaction.  If the Roll-over Transaction is completed, it is currently expected that each limited partner will receive series A shares in the Ark Catapult Energy Class Fund (the "Mutual Fund"), a class of shares of the Mutual Fund Corp.  Although the exact timing of the Roll-over Transaction is not currently known, the General Partner currently anticipates that, if the Roll-over Transaction is completed, it will be completed in mid-December, 2008 (the "Closing Date").  If the Roll-over Transaction is not completed, then the assets of the Partnership will be distributed to the limited partners of the Partnership on a pro-rata basis in accordance with the amended and restated partnership agreement of the Partnership, dated October 19, 2006.

Based on information received by the General Partner from Ark Fund Management Ltd., it is currently expected that Ark Fund Management Ltd. will be the manager and Catapult Financial Management Inc. will be the portfolio adviser to the Mutual Fund. It is also currently expected, based on such information, that the Mutual Fund's investment objective will be to achieve long-term capital appreciation by investing primarily in the equity securities of Canadian energy and resource issuers, and that the portfolio adviser will assist the Mutual Fund in selecting investments in common shares and other securities of resource issuers, including junior resource issuers, in accordance with the investment strategies of the Mutual Fund.

The General Partner has been advised by Ark Fund Management Ltd. that a preliminary simplified prospectus and annual information form for the Mutual Fund are expected to be filed with the securities commissions or similar authorities in each of the provinces of Canada in early November of 2008.  A copy of such documents will be available on SEDAR at www.sedar.com shortly after such filing and will be available to limited partners of the Partnership by calling Ark Fund Management Ltd. at (416) 304-6800.

The General Partner is a wholly-owned subsidiary of Aston Hill Financial Inc. (TSXV:AHF). 
Aston Hill Financial Inc. is a Calgary-based asset management company 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:

Catapult Energy 2006 Inc.

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

Joanne A. Hruska
President
(403)770-4814

Larry Titley
Chief Financial Officer
(403)770-4808

Not for distribution to U.S. newswire services or for dissemination in the United States.  Any failure to comply with this restriction may constitute a violation of U.S. securities law.

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

Forward-Looking Statements: This Press 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 failure of the Partnership to implement the Roll-over Transaction or the determination by the General Partner, in its sole discretion, not to proceed with the Roll-over Transaction.

For a detailed description of the risks and uncertainties facing the Partnership and its business and affairs, readers should refer to the Partnership's annual financial statements and management report on fund performance for the year ended December 31, 2007, both of which are available at www.sedar.com.  The Partnership 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.

The summary information about the Mutual Fund contained in this Press Release is based on the disclosure anticipated to be contained in such preliminary simplified prospectus and annual information form of the Mutual Fund, a draft of which has been provided to the General Partner for the purposes of preparing this Press Release.  Such disclosure may change prior to the filing of such documents, and may further change once a (final) simplified prospectus and annual information form for the Mutual Fund are filed with such securities commissions or similar authorities.

 

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