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Press release from CNW Group

Horizons BetaPro launches an S&P 500® Index ETF for Savvy Canadian Investors

Wednesday, December 01, 2010

Horizons BetaPro launches an S&P 500® Index ETF for Savvy Canadian Investors08:00 EST Wednesday, December 01, 2010TORONTO, Dec. 1 /CNW/ - BetaPro Management Inc.("BetaPro"), the manager of the Horizons BetaPro exchange traded funds, is pleased to announce the launch of the Horizons BetaPro S&P 500® Index (C$ Hedged) ETF (the "BetaPro S&P 500® ETF" or "HXS"). The BetaPro S&P 500® ETF will begin trading on the Toronto Stock Exchange on December 1, 2010, under the symbol HXS.In September 2010, BetaPro launched the Horizons BetaPro S&P/TSX 60™ Index ETF (HXT:TSX), the lowest cost ETF in Canada, tracking the S&P/TSX 60™ Index. Following in HXT's footsteps, HXS is the second ETF launched by BetaPro that will track an index already available to Canadian investors through another TSX listed index-tracking ETF."HXS represents another milestone for Canadian ETF investors and continues the new era of competition in the Canadian ETF industry, which we started with the launch of the Horizons BetaPro S&P/TSX 60™ Index ETF." said Howard Atkinson, president of BetaPro Management Inc. "In our view, the S&P 500® Index is the most important U.S. equity benchmark and we're offering an ETF solution designed to meet the unique tax and investment needs of Canadian investors who buy U.S. stocks.".HXS offers a low-cost and tax efficient total return structure providing exposure to the S&P 500® Index, the premier large-cap U.S. equity index. The BetaPro S&P 500® ETF seeks to replicate, to the extent possible, the performance of the S&P 500® Canadian Dollar Hedged Index (Total Return), net of expenses."As with HXT, we do not anticipate that HXS will make any taxable distributions. This is consistent with the tradition of our other BetaPro ETFs, which have never paid out any quarterly or year-end taxable distributions," Mr. Atkinson said. "As a result, HXS will not be exposed to withholding tax or the punitive foreign dividend tax that investors would otherwise be subject to if they held the index constituents directly."HXS has closed the offering of its initial units and will begin trading on the Toronto Stock Exchange on December 1, 2010, when the market opens this morning.Commissions, management fees and expenses all may be associated with investments in the Horizons BetaPro ETFs (the "ETFs"). The ETFs are not guaranteed, their values change frequently and past performance may not be repeated. "Standard & Poor's®" and "S&P®" are registered trademarks of Standard & Poor's Financial Services LLC ("S&P") and "TSX®" is a registered trademark of the TSX Inc. ("TSX"). These marks have been licensed for use by BetaPro Management Inc. The ETFs are not sponsored, endorsed, sold, or promoted by S&P or TSX and its affiliated companies and none of these parties make any representation, warranty or condition regarding the advisability of buying, selling and holding units/shares in the ETFs. Please read the prospectus before investing.About BetaPro Management Inc. ( BetaPro Exchange Traded Funds (the "Horizons BetaPro ETFs") are managed by BetaPro Management Inc., Canada's sole provider of investment tools allowing investors to profit when the market is rising or falling or to reduce their risk by hedging their existing market exposure. The Horizons BetaPro ETFs offer several types of structures: single, inverse, leveraged and spread ETFs. BetaPro is a subsidiary of Jovian Capital Corporation (JOV:TSX) and currently has assets under management of approximately $2.5 billion as of October 29, 2010 amongst 45 ETFs.For further information: Howard Atkinson, President, BetaPro Management Inc., (416) 777-5167