Redwood Asset Management Inc.

Redwood Asset Management Inc.
Ark Fund Management Ltd.

Ark Fund Management Ltd.

January 25, 2010 20:55 ET

CORRECTION FROM SOURCE: Redwood Announces Fund Change

TORONTO, ONTARIO--(Marketwire - Jan. 25, 2010) - A correction from source is being issued with respect to the release that was disseminated on January 25, 2010 at 13:55 ET. The timelines provided in the first paragraph were not accurate. The complete and corrected release follows.

Redwood Asset Management today announced changes to the Ark Aston Hill Opportunities Class (the "Fund,") a class of Ark Mutual Funds Ltd.

Pursuant to an Investment Management Agreement dated January 21, 2010, Trapeze Asset Management Inc. will assume management of the Fund. The Fund's name has also been changed to Trapeze Value Class.

Aston Hill Financial Inc.'s Catapult Financial Management division continues as portfolio advisers to two top-quartile portfolios within the Ark Family of Funds; the Ark Aston Hill Monthly Income Class and the Ark Aston Hill Energy Class.

Trapeze Asset Management Inc. ("TAMI") is a Toronto-based investment manager. Since its inception in 1999, TAMI has followed a value investment approach and an investment process which combines macroeconomic and general market analysis with a bottom-up approach which emphasizes security selection backed by its fundamental research. Together with its affiliated investment dealer, Trapeze Capital Corp. ("TCC"), TAMI and TCC have in excess of CDN $500 million of assets under administration.

Redwood Asset Management Inc. is a Toronto-based manager of investment funds. It manages funds in the equity, income and market neutral categories through its Redwood, Ark and SciVest brands. On December 31, 2009 Redwood closed the acquisition of another investment fund manager, Gatehouse Capital Inc., making Gatehouse a wholly-owned subsidiary. At the time of the acquisition Gatehouse was the Manager of the TIS Preservation and Growth Fund and the Global Credit Preferred Corp. (GPA.PR.A on the TSX.)

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