AGF and CIBC Launch Latest Series of Popular Principal-Protected Notes



    CIBC AGF China and Emerging Markets Enhanced Protection Deposit Notes,
    Series 1 combine enhanced principal protection with exposure to growing
    markets

    TORONTO, Jan. 29 /CNW/ - AGF Funds Inc. and CIBC today responded to
continuing demand from Canadian investors for products offering growth and
security with the launch of CIBC AGF China and Emerging Markets Enhanced
Protection Deposit Notes, Series 1, the latest in their popular series of
Principal-Protected Deposit Notes.
    These Notes will provide investors with exposure to the long-term growth
potential of markets in China, Asia, Eastern Europe, Central and South
America, combined with 100 per cent principal protection if held to maturity.
In addition, an innovative "lock-in" feature allows investors to lock in a
portion of the returns on the funds as the value of the portfolio exceeds
certain thresholds.
    "Principal-protected deposit notes are proving to be a real hit with
Canadian investors looking for growth and security," said AGF Funds Inc.
President Randy G. Ambrosie. "This Series combines principal protection with
the growth potential of our award-winning AGF Emerging Markets Fund and our
fast-growing AGF China Focus Class."
    AGF Emerging Markets Fund has won three consecutive Canadian Investment
Awards for outstanding performance in its category in 2005, 2006 and 2007. The
Fund invests primarily in shares of companies located or active in Asia,
Eastern Europe, Central and South America.
    AGF China Focus Class invests primarily in stocks and bonds of companies
which are either based in China or which benefit from its economic development
and growth.
    The seven-year Notes are available for purchase until March 28, 2008 and
will mature April 2, 2015.
    In 2007, AGF and CIBC have previously launched six other series of
deposit notes linked to different AGF Funds.

    About AGF Management Limited

    AGF Management Limited is one of Canada's premier investment management
companies with offices across Canada and subsidiaries around the world. AGF's
products and services include a diversified family of more than 50 mutual
funds, the evolutionary AGF Elements portfolios, the Harmony asset management
program, AGF Institutional Account Services, high-net-worth products, and AGF
Trust GICs, loans and mortgages. With approximately $53 billion in total
assets under management, AGF serves more than one million investors. AGF
trades on the Toronto Stock Exchange under the symbol "AGF.B".

    About CIBC

    CIBC is a leading North American financial institution with nearly
11 million personal banking and business clients. CIBC offers a full range of
products and services through its comprehensive electronic banking network,
branches and offices across Canada, in the United States and around the world.





For further information:

For further information: AGF Corporate Communications: Lucy Becker,
Vice-President, (416) 865-4284, Lucy.Becker@agf.com; Paul Howard, Director,
(416) 865-4345, Paul.Howard@agf.com

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