Clarington Diversified Income + Growth Fund and Focused 40 Income Fund to Reorganize



    TORONTO, Nov. 9 /CNW/ - Clarington Investments Inc., the trustee of
Clarington Diversified Income + Growth Fund (TSX: DIF.UN) and Focused 40
Income Fund (TSX: FIF.UN) (the "Funds"), today announced that it will
consolidate its operations with its parent company, IA Clarington Investments
Inc. ("IA Clarington"), effective November 30, 2007.
    As a result of the reorganization, IA Clarington will become the trustee
of the Funds. The reorganization will not otherwise have a significant impact
on unitholders of the Funds, and KBSH Capital Management Inc. will remain the
portfolio advisor of the Funds. The reorganization is not subject to
securityholder or regulatory approval.
    The independent review committee of the Funds has unanimously determined
that the reorganization achieves a fair and reasonable result for each of the
Funds.
    For further information please contact us at 1-888-860-9888 or visit our
website: www.iaclarington.com.

    About IA Clarington Investments Inc.

    IA Clarington Investments Inc. ("IA Clarington"), managed over $7 billion
in mutual fund and closed-end fund assets as at October 31, 2007. IA
Clarington maintains offices in Toronto, Calgary, Vancouver, Montreal and
Quebec City.





For further information:

For further information: Eric Frape, Senior Vice-President, Product and
Business Development, IA Clarington Investments Inc., (416) 860-9880,
Toll-Free 1-888-860-9888, Email: eric.frape@iaclarington.com

Organization Profile

IA Clarington Investments Inc

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