Acuity Funds Ltd. to seek unitholder approval for fund merger and change to fundamental investment objectives

    TORONTO, June 19 /CNW/ - Acuity Funds Ltd. ("Acuity) announced today that
it will seek the approval of unitholders of:

    1.  Acuity Clean Environment Global Equity Fund, in respect of a proposal
        to merge the assets of Acuity Clean Environment Global Equity Fund
        into Acuity Clean Environment Equity Fund;

    2.  Acuity Clean Environment Equity Fund, in respect of a proposal to
        change the fundamental investment objective to permit it to invest up
        to 100% of its assets in foreign issuers; and

    3.  Acuity Clean Environment Balanced Fund, in respect of a proposal to
        change the fundamental investment objective for purposes of expanding
        and diversifying its current "sustainable development" investment
        mandate to include other "socially responsible" investment
        opportunities. In connection with this change, the fund's name will
        change to Acuity Social Values Balanced Fund.

    Notice of these unitholder meetings and an information circular will be
mailed to applicable unitholders for meetings to be held on or about August 7,
2007. If approved, the aforementioned changes are anticipated to become
effective by the end of August 2007.

    Acuity is a Toronto-based mutual fund manager and, together with Acuity
Investment Management Inc., manages approximately $9.4 billion in assets on
behalf of mutual funds, pooled funds, closed-end (TSX-listed) funds, pension
funds, foundations, and private clients.

    %SEDAR: 00005145E

For further information:

For further information: Mr. George Henry, Acuity Funds Ltd., 65 Queen
Street West, Suite 1800, Toronto, Ontario, M5H 2M5, Telephone: (416) 366-9933,
Facsimile: (416) 366-2568, Toll Free: 1-800-461-4570

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