News Releases

Guardian Group of Funds Ltd. (GGOF) announced today that the unitholders of GGOF Global Growth Fund and GGOF RSP Global Growth Fund, at their respective special meetings, approved motions to permit the conversion of Classic Units into Mutual Fund Units for each fund. This conversion will occur at book value at the close of business on December 29, 2004, and will not have a negative impact on unitholders.

GGOF also confirmed that the previously announced name change of GGOF RSP International Income Fund to GGOF RSP Global Bond Fund will take effect on December 29, 2004.

GGOF Guardian Group of Funds provides investors with a full product line of 30 mutual funds, diversified by asset class, geographic region and investment style. GGOF, with $4.4 billion of mutual fund assets under management at November 30, 2004 offers its funds exclusively through financial intermediaries.

GGOF is a member of BMO Financial Group and is part of the organization's Private Client Group. The Private Client Group provides integrated wealth management services in Canada and the United States and has total assets under management and administration and term investments of $271 billion at October 31, 2004.

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