Company Press Release

Parsippany, NJ - January 21, 2009 – SmartGrowth® Mutual Funds is pleased to announce the addition of two new industry veterans to its wholesaling team. Victor Kopelakis and Ronald (“Ron”) Farrise have joined the Funds’ wholesaling team as Regional Vice Presidents; they will both be based on the East Coast.

"The addition of these two proven wholesaling professionals underscores the commitment that the Hennion & Walsh Asset Management Company has to the future success of our innovative family of SmartGrowth® Lipper Mutual Funds," said Kevin Mahn, Portfolio Manager for the SmartGrowth® Mutual Funds and Chief Investment Officer at Hennion & Walsh Asset Management, the investment adviser to all three mutual funds. "We plan to continue to grow our sales force as the Funds prosper and are currently seeking to add a dedicated and experienced internal wholesaler to the team in the coming months."

Victor Kopelakis was most recently with AllianceBernstein, where he served as a Senior Vice President and Regional Wholesaler for over 15 years. Victor has a B.A. in Accounting from Queens College and brings with him more than two decades of financial industry experience.

Ron Farrise joins the firm most recently from Claymore Securities where he served as an External Wholesaler covering the New York Metro Region/Upstate New York. Prior to Claymore, Ron also was a Wholesaler, both External and Internal, with Fixed Income Securities, LP/AAM Unit Trusts and Guardian Investor Services. Ron earned his B.A. in Business Management from Buffalo State College and has more than 21 years of financial industry experience.

"Ron and Victor each bring with them the experience needed to help our Funds grow," stated Bill Walsh, President of Hennion & Walsh Asset Management. "We feel the timing is perfect to make strategic additions to our team of wholesalers."

Both Mr. Kopelakis and Mr. Farrise will operate under the supervision of David D’Arcangelo, National Sales Manager for the SmartGrowth® Mutual Funds, and are employees of Hennion & Walsh, Inc., the firm’s broker-dealer. Launched June 1, 2007, each of the three target risk funds is benchmarked to one of Lipper’s proprietary Optimal Target Risk Indices and offers investors three risk/reward options ranging from conservative to growth portfolios. Designed to provide investors with an investment solution that helps take the guesswork out of choosing the right blend of ETFs and ETNs, the SmartGrowth® Mutual Funds attempt to track the indices’ carefully selected ETFs and ETNs whose historical returns, liquidity, correlations and expenses are all analyzed to identify the appropriate mix for each index’s risk/reward profile.

"We are very excited to have Ron and Victor join the SmartGrowth® team and are confident in their ability to build upon the success-to-date of our groundbreaking products,” said Richard Hennion, Vice President of Hennion & Walsh Asset Management.

The SmartGrowth® Mutual Funds are distributed by SEI Investments Distribution Co., which is not affiliated with Hennion & Walsh Asset Management or Lipper (a ThomsonReuters Company).