Aston Hill Announces Third Quarter Results

Calgary, November 28, 2008 – Aston Hill Financial Inc. (the "Company" or "Aston Hill”) (TSXV: AHF) announces that it has filed the unaudited interim consolidated financial statements for the period ended September 30, 2008 and related Management Discussion and Analysis with Canadian Securities Regulatory Authorities.

Copies of these documents may be obtained via SEDAR at www.sedar.com.

Aston Hill’s net income for the nine months ending September 30, 2008 was $2.3 million. This included revenue from management and acquisition fees of $3.0 million and income from investing activities of $2.5 million, offset by net operating expenses of $3.2 million.

The third quarter highlights consisted of the appointment of Catapult Financial Management Inc., a wholly owned subsidiary of Aston Hill, as Sub Advisor to the IA Clarington Tactical Income Fund effective July 4, 2008, and to IA Clarington Global Income Fund effective September 15, 2008. As at September 30, 2008, the assets under management for the two funds totaled $151 million.

The management fees received from Sword Energy Inc. (“Sword”) remain Aston Hill’s greatest source of income. It should be noted that these fees get re-calculated retroactively based upon the Net Asset Value (“NAV”) of Sword at each year end. The fees received for the first nine months of 2008 do not reflect the aforementioned adjustment to Sword’s NAV as they were based upon Sword’s NAV at Dec. 31, 2007. The final adjustments to this fee are calculated and payable in the fourth quarter of each year.

Assets Under Management (“AUM”) have grown from approximately $509 million at September 30, 2007 to approximately $809 million at September 30, 2008, representing a year over year growth rate of 59%. Aston Hill is continuously launching new products and working to increase the size and return of existing products with a goal to grow recurring cash flows.

Subsequent to third quarter end, on November 7, 2008, Catapult Energy 2008 Inc. (“Catapult 2008”) closed the initial offering of Catapult Energy 2008 FTS Limited Partnership (the “FTS 2008 Partnership”) by issuing 345,707 limited partnership units at $25.00 per unit for gross proceeds of approximately $8.64 million. Catapult 2008 is responsible for developing and implementing all aspects of the FTS 2008 Partnership’s communications, marketing and distribution strategies and manages its ongoing business and administrative affairs. Catapult Financial Management Inc. has been retained by Catapult 2008 to advise on the management of the investments in flowthrough shares of private and public resource issuers for the FTS 2008 Partnership.

Aston Hill is an investment manager with expertise in the energy sector, income trusts, oil and gas property management, private equity and high-yield products.

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 failure of the Company to close 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
Aston Hill Financial Inc.
(403) 770-4817

Larry Titley
Chief Financial Officer
(403)770-4808

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

 

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