Hesperian Capital Management Ltd. Declares Eligible Dividend to Unitholders of Norrep Market Neutral Income Fund

CALGARY, ALBERTA--(Marketwire - Dec. 30, 2011) - Hesperian Capital Management Ltd. ("Hesperian"), the Manager of a strategically focused group of public mutual funds and limited partnerships (the "Norrep Group of Funds"), announced today that it has declared an eligible dividend of $0.0647 per unit and a capital gain dividend of $0.1603 per unit for the Norrep Market Neutral Income Fund. The total distribution is $0.225 per unit.

The dividends are payable on December 30, 2011 to shareholders of record at the close of business on December 29, 2011.

Hesperian Capital Management Ltd. hereby advises that the $0.0647 dividend is designated to be an "eligible dividend" pursuant to subsection 89(14) of the Income Tax Act (Canada) and corresponding provincial legislation. Shareholders with questions regarding the tax treatment of dividends should consult with their own tax advisors or contact their local office of the Canada Revenue Agency and, where applicable, the provincial taxation authorities.

Hesperian Capital Management Ltd. is a Canadian investment firm with offices in Calgary and Toronto. Please visit www.hesperiancapital.com for more details about Hesperian and the Norrep Group of Funds.

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.