AGF Calls Special Securityholder Meetings To Approve Mergers and Change of Investment Objectives

    TORONTO, Feb. 26 /CNW/ - AGF Funds Inc. today announced that special
securityholder meetings for several of its funds will be held on April 10,
2008 to seek approval for a number of changes aimed at simplifying and
improving AGF's fund line up.
    Among the matters to be brought before the meetings, securityholders of
the relevant funds will be asked to consider the following changes:

    -   Merger of AGF Germany Class into AGF European Equity Class
    -   Merger of AGF Aggressive(TM) Japan Class into AGF Japan Class
    -   Merger of AGF RSP Global Bond Fund into AGF Global Government Bond
    -   Reorganization of Harmony Americas Small Cap Equity Pool, which
        includes the sale of its U.S. assets to Harmony U.S. Equity Pool and
        the subsequent merger of Harmony Americas Small Cap Equity Pool into
        Harmony Canadian Equity Pool
    -   Change of the investment objectives of AGF World Companies Fund to
        align the fund with its corporate class counterpart, AGF Global
        Equity Class

    "These changes will streamline and simplify AGF's current product line
up," said Randy Ambrosie, President, AGF Funds Inc. "If approved, these
proposals will clarify and improve AGF's product offerings for investors and
their financial advisors."
    If approved, the mergers and reorganization will be effective on or about
May 23, 2008 and the investment objectives change will be effective on or
about April 21, 2008 with the renewal of the AGF Group of Funds simplified
prospectus. The changes are subject to securityholder and regulatory approval,
as applicable.
    Full details of the above changes and other issues to be determined at
the special meetings will be provided to current investors and may be obtained
by prospective investors from AGF prior to the meetings.
    Details on the time and location of the special meetings are included in
the notice of meetings and management information circular to be mailed to
securityholders, and are also available on or by contacting AGF
directly at 1-800-268-8583.

    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 Asset Management Group services for institutional and
high-net-worth clients, as well as AGF Trust GICs, loans and mortgages. With
over $49 billion in total assets under management, AGF serves more than one
million investors. AGF trades on the Toronto Stock Exchange under the symbol

For further information:

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

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