News Releases

Guardian Group of Funds Ltd. (GGOF) today announced that GGOF Enterprise Fund, GGOF’s Canadian small cap equity fund, managed by Mawer Investment Management Ltd., will split its units on a 3-for-1 basis following the close of business on September 30, 2005. After the split, unitholders will each hold three units for every pre-split unit held without any change in the total value of their pre-split investment.

GGOF provides investors with a full product line of 29 mutual funds, diversified by asset class, geographic region and investment style. GGOF, with $5.5 billion of mutual fund assets under management at August 31, 2005, offers its funds exclusively through financial intermediaries.

GGOF is a member of BMO Financial Group and part of the organization’s Private Client Group. The Private Client Group provides integrated wealth management services in Canada and the United States and had total assets under management and administration and term investments of $295.3 billion as at July 31, 2005.

Sales commissions, service fees, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.

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