News Releases

GGOF Modifies Portfolio Advisers for GGOF Canadian Balanced Fund

Guardian Group of Funds Ltd. (GGOF) announced that, effective December 30, 2005, Jones Heward Investment Counsel Inc. will assume management of the value component of GGOF Canadian Balanced Fund, replacing the current portfolio advisers, GGOF Investment Management and Value Investments Inc.. With the addition of the value component of the portfolio, Jones Heward will now act as portfolio adviser for the entire portion of the Fund’s portfolio in Canadian equity securities.

GGOF provides investors with a full product line of 29 mutual funds, diversified by asset class, geographic region and investment style. GGOF, with $5.2 billion of mutual fund assets under management at October 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.

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