Hesperian Capital Management Ltd.

Hesperian Capital Management Ltd.

August 19, 2010 09:25 ET

Hesperian Capital Management Ltd. Announces Retirement of Randal L. Oliver

CALGARY, ALBERTA--(Marketwire - Aug. 19, 2010) - Alex Sasso, Chief Executive Officer of Hesperian Capital Management Ltd. ("Hesperian"), announced today that Randal L. Oliver, CFA, Chairman and Chief Investment Officer of Hesperian, will retire from the company at the end of August 2010.

Underscoring the strength of the leadership team in place, the company announced that Alex Sasso, CFA, will assume the Chairman's duties and Craig Millar, CFA, Vice President and Portfolio Manager of Hesperian, will be appointed Chief Investment Officer.

Before establishing Hesperian in 1995, Randy led the Western Canadian Operations for Mu-Cana Investment Counselling, a subsidiary of Mutual Life of Canada, where he built its Western Canadian investment portfolio from zero to more than $1 billion in assets. Previously, Randy held investment industry leadership roles with Mutual Life and Mercantile Bank. Randy has also been very involved in the local community, having served as both a Governor and Board Chair of the Glenbow Alberta Institute and as a Director of the Calgary Foundation.

Randy founded Hesperian based on the investment philosophy of providing consistent investment performance in niche markets. This philosophy has most closely paralleled a 'value' approach, complemented by a 'growth overlay'. Hesperian excels at identifying undervalued equities with significant growth potential before the market recognizes their value. The funds usually include less than 35 names that have been shown, based on a rigorous selection process, to be capable of dynamic growth.

This philosophy has led to Hesperian's flagship fund, the Norrep Fund, being the second best performing Canadian small and mid cap fund over the ten year period ending July 31, 2010.

"For the past 40 years, Randy has personified creativity, passion and drive in the investment industry. With this spirit, he founded Hesperian in 1995 and grew the company to 28 employees and over $500 million in assets under management." Sasso said. "Randy is an amazing leader and mentor, which makes his departure a point of sadness with me; however, given the strong leadership team he has built around Hesperian's disciplined investment methodology, we are well set up to continue his legacy."

"I've been so fortunate to spend more than four decades of my life working in a dynamic and challenging industry," said Oliver. "I'm at the stage in my life where I want to concentrate more on my family and other personal projects. As a company, we've spent the last year preparing for my succession and I feel that the time is right to make the transition. I have the utmost confidence in the ability of Alex and the senior management team to continue on with Hesperian's mission of providing well designed investment solutions for inefficient markets."

Hesperian Capital Management Ltd. is an independent investment management firm managing approximately $500 million from offices in Calgary and Toronto. Please visit www.hesperiancapital.com for more details.

Certain information set forth in this press release, including a discussion of future plans and operations, contains forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond management's control, including but not limited to, the impact of general economic conditions, industry conditions, fluctuation of commodity prices, fluctuation of foreign exchange rates, environmental risks industry competition, availability of qualified personnel and management, stock market volatility, timely and cost effective access to sufficient capital from internal and external sources. Actual results, performance or achievement could differ from those expressed in or implied by these forward-looking statements.

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