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Qwest Energy 2010-II Flow-Through Limited Partnership Completes $7.35 Million Rollover

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 04/17/12 -- Qwest Investment Management Corp. is pleased to announce that on April 17, 2012, the assets of Qwest Energy 2010-II Flow-Through Limited Partnership (the "Partnership"), with a value of $7.35 million, rolled on a tax-deferred basis to Qwest Funds Corp.'s Series A shares of Qwest Energy Canadian Resource Class (the "Mutual Fund").

Partnership's Rollover Net Asset Value

The net asset value for the rollover to the Mutual Fund, calculated at the close of business on April 16, 2012, was $16.08 per Partnership unit.

Mutual Fund Shares Distribution Date

The Partnership will distribute to its former limited partners the applicable number of Mutual Fund shares on or about April 19, 2012. The Partnership will subsequently be dissolved upon completion of the Mutual Fund share distribution. The Mutual Fund shares will be redeemable after the completion of distribution, on or about April 19, 2012, and the subsequent settlement of the Mutual Fund shares into the limited partners' respective brokerage account. The rollover is a tax-deferred event and does not trigger capital gains until a limited partner decides to sell their Mutual Fund shares.

About The Mutual Fund

The Mutual Fund is an open-ended mutual fund corporation with a mandate of achieving long-term capital appreciation by investing primarily in equity securities of publicly traded Canadian companies involved in the energy and natural resources sector. The Mutual Fund targets companies that possess a combination of an experienced management team, sound financial fundamentals and strong growth prospects. The Mutual Fund is managed by our Calgary based portfolio management team which is led by Mr. Don Short, Senior Vice-President and Portfolio Manager, for Qwest Investment Fund Management Ltd.

Investors in the Mutual Fund will also have the option to switch to Qwest Funds Corp's other corporate class funds.

About Qwest Investment Management Corp.

Qwest Investment Management Corp. is an investment management firm which specializes in identifying, structuring and managing strategic investment products.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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