TSXgroup

January 5, 2009

Horizons AlphaPro Managed S&P/TSX 60® ETF (the “ETF”) - An application has been granted for the original listing in the Industrial category of approximately 1,050,717 Class E units of the ETF (the “Class E Units”), all of which will be issued and outstanding, upon the completion of a public offering.

Listing of the Class E Units will become effective at 5:01 p.m. on Tuesday, January 6, 2009 in anticipation of the prospectus offering closing on Wednesday, January 7, 2009. The Class E Units will be posted for trading at the opening on January 7, 2009.

The ETF is authorized to issue an unlimited number of Class E Units each of which represents an undivided interest in the assets of the ETF. Class E Units of the ETF are being issued and sold on a continuous basis and there is no minimum number that may be issued.

The ETF is an open-end mutual fund trust managed by AlphaPro Management Inc. (“AlphaPro” or the “Manager”). The investment strategy of the ETF is to invest primarily in large capitalization equity, income trusts and equity related securities that are constituents of the S&P/TSX 60 Index® or similar Canadian indices.

The registration and transfer of Class E Units will be effected through the book-entry only system administered by CDS Clearing and Depository Services Inc. (“CDS”). Unitholders of the ETF will not have the right to receive physical certificates evidencing their ownership of the Class E Units.

Additional information on the Class E Units may be found in the final prospectus of the ETF dated December 31, 2008 (the “Prospectus”) which is available at www.SEDAR.com. Capitalized terms not otherwise defined below are as defined in the Prospectus.

Stock Symbol: "HAX”
CUSIP:     44045T 10 1
Currency: CDN

Designated Market Maker:               National Bank Financial Inc.

Other Markets:     None

Head Office:     26 Wellington Street East, Suite 920
Toronto, Ontario
M5E 1S2

Email Address:     info@alphapro.ca

Website Address:     www.hapetfs.com

Head Office Telephone Number:     (416) 933-5745

Fax Number:     (416) 777-5181

Investor Relations:     Don Sangster
Tel: (416) 933-5744
Email: dsangster@joviancapital.com

Manager and Trustee:     AlphaPro Management Inc.

Transfer Agent & Registrar:     Computershare Investor Services Inc., at its principal office in Toronto.

Chief Financial Officer:     Alex Watters
     
Secretary:               Duriya Patel

Fiscal Year End:     December 31

Incorporation:     The ETF was established under the laws of the Province of Ontario and is governed by a master declaration of trust dated December 31, 2008.

Nature of Business:     The investment strategy of the ETF is to invest primarily in large capitalization equity, income trusts and equity related securities that are constituents of the S&P/TSX 60 Index® or similar Canadian indices.

Distributions:     Distributions on Class E Units of the ETF, which will automatically be reinvested in additional Class E Units of the ETF, are expected to be made annually at the end of each calendar year. The Manager reserves the right to make additional distributions in any year if determined to be appropriate.

On an annual basis, the ETF will ensure that all of the ETF’s income (including net realized capital gains) will be distributed to Unitholders to such an extent that the ETF will not be liable for ordinary income tax thereon. Such distributions will be paid as a “reinvested distribution”. Reinvested distributions on Class E Units, net of any required withholding, will be reinvested automatically in additional Class E Units at a price equal to the net asset value per Class E Unit on such day and the Class E Units will be immediately consolidated such that the number of outstanding Class E Units held by each Unitholder on such day following the distribution will equal the number of Class E Units held by the Unitholder prior to the distribution, except in the case of a non-resident Unitholder if tax has to be withheld in respect of the distribution.

Formation and Creation Of the ETF:     Prior to December 31, 2008, the ETF distributed Series A, Series F, and Series I units pursuant to a simplified prospectus. The ETF was, at that time, named “Jov Talisman Fund” (the “Fund”). On December 1, 2008, at a special meeting of Series A, Series F, and Series I unitholders of the Fund, unitholders approved changing the investment objective of the Fund, converting the Series A units, Series F units and Series I units of the Fund into Class E Units, listing and distributing Units of the ETF through the facilities of a Canadian stock exchange, and amending and restating the trust indenture and such other agreements of the ETF as were necessary. These changes were completed on December 31, 2008, the date of the first prospectus for Class E Units of the ETF.