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Jovian Acquires Balance of Charterhouse

TORONTO, May 19 /CNW/ - Jovian Capital Corporation ("Jovian") (JVN: TSX-V) is pleased to announce that it has acquired control of Charterhouse PSI Management Corporation ("Charterhouse"), the manager of Charterhouse Preferred Share Index Corporation ("PSI") (PFD.PR.A: TSX) and Charterhouse PSI Investment Corporation ("IndexCo"), by taking up the balance of the shares of Charterhouse Holding Corporation ("Holding") under an earn-out arrangement. Jovian acquired its original 12.5% minority stake in Holding in September 2004.

Charterhouse Preferred Share Index Corporation is an investment fund that provides investors with broadly-diversified exposure to the Canadian preferred share market through investing in an indexed portfolio of fixed-rate preferred shares and preferred securities of Canadian issuers. Benefits of this product include a high quality preferred share index (average Dominion Bond Rating Service Limited rating of Pfd-2) and attractive, tax-efficient quarterly distributions. Assets of Charterhouse Preferred Share Index Corporation are currently approximately $54 Million.

Philip Armstrong, Jovian President and C.E.O. said, "We are pleased to complete the acquisition of Charterhouse. It is consistent with our goal of expanding our presence in the exchange-traded structured product market." Jove Investment Management Inc. ("Jove"), a wholly-owned subsidiary of Jovian, already acts as the index administrator for IndexCo.

Peter Rizakos, one of the founders of Charterhouse and the outgoing C.E.O. of PSI and IndexCo, said "This transaction makes a lot of sense for PSI shareholders. Jovian has been involved with PSI since day one with its initial investment in Holding and subsequently through Jove as the index administrator for IndexCo. While the day-to-day operations of PSI and IndexCo will not change, PSI is now part of the more substantial group of Jovian companies."

Jovian is pleased to announce the appointment of Kevin Beatson as Chief Executive Officer and Jason Mackey as Chief Financial Officer of Charterhouse, effective immediately. Mr. Beatson is the C.E.O. of Felcom Data Services Inc., a fund administrator and wholly-owned subsidiary of Jovian. Mr. Mackey is the C.F.O. of Jovian. Messrs. Beatson and Mackey, along with Mr. Robert Marcus, will join existing board members Messrs. Harvey Naglie and Peter Rizakos on the Board of Directors of PSI and IndexCo. Mr. Marcus is the President and C.I.O. of Majorica Asset Management Corporation and is one of Canada's leading fixed income managers.

About Jovian Capital Corporation

Jovian is a publicly-traded company listed on the TSX Venture Exchange (JVN). Jovian is a management and holding company with interests in a variety of financial service firms specializing in wealth* and asset(xx) management. The Jovian group of companies operates as a national financial services organization with approximately $11.9 billion of client assets.

    *  Wealth management entities include Convoy Capital Corporation,
         Gibraltar Alternative Asset Consulting Group Inc., MGI Securities
         Inc., MGI Securities (USA) Inc. and Rice Financial Group Inc.
    (xx) Asset management entities include Accumulus Management Ltd., BetaPro
         Management Inc., Charterhouse PSI Management Corporation, DeltaOne
         Capital Partners Corp. (Canada), Fairway Asset Management Corp.,
         Jove Investment Management Inc., Jovian Asset Management Inc., Leon
         Frazer & Associates Inc., Pescara Partners Inc., Taliesin Capital
         Inc., T.E. Wealth. Financial corporate service entities include
         Felcom Data Services Inc. and Services Felcom Data (Quebec)
         Inc./Felcom Data Services (Quebec) Inc.
    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this release.

For further information: Don Sangster, Investor Relations, Jovian Capital 
Corporation, (416) 864-2624; or Philip Armstrong, President & C.E.O., Jovian 
Capital Corporation, (416) 933-5752

CO: Jovian Capital Corporation
ST: Ontario
-0- May/19/2006 16:33 GMT

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