AGF challenges competitors to a 'pedal off'

    Mutual fund companies set target to raise $135,000 for JDRF's 2008 Ride
    for Diabetes Research

    TORONTO, Sept. 16 /CNW/ - AGF Funds Inc. today reissued a 'battle of the
bikes' challenge to other mutual fund companies to raise awareness for and
encourage their participation in this Friday's (Sept. 19) Juvenile Diabetes
Research Foundation's 2008 Ride for Diabetes Research.
    "We want to make this year's JDRF Ride for Diabetes Research Mutual Fund
Challenge bigger and better than ever, so we're excited to challenge other
mutual fund companies to pedal up and raise funds for such an important
cause," said AGF Funds Inc. President Randy Ambrosie. "We plan to give our
competitors a real 'ride for their money'. It's a fantastic way to spend a
Friday afternoon."
    Last year, over 300 enthusiastic and high-energy riders from seven mutual
funds companies took part in the Mutual Fund Challenge held at Nathan Phillips
raising a total of $110,000, a 50% increase from 2006.
    AGF has proudly participated in JDRF's Ride for Diabetes Research in
Toronto for the past five years. "We have a long tradition of supporting
causes to make our communities a better place to live and work," said Judy
Goldring, AGF's General Counsel and Senior Vice-President, Law and Corporate
Affairs, who has chaired the firm's JDRF Campaign since 2003. "I'm thrilled
that several mutual fund companies and their employees have also embraced this
event, rising to the challenge year after year."
    This year, AGF's target is to increase total funds raised to $70,000
through individual pledges, a corporate donation and other summer fundraising
efforts. The 2008 Mutual Fund Challenge target is $135,000. The winner of the
Challenge takes home the Ride Cup for the Company that has the highest average
amount raised per rider.
    "We're delighted that the mutual fund industry has taken the cause of
juvenile diabetes to heart and has been committed to raising awareness and
funds for the Ride for Diabetes Research over the years," said JDRF Canada
President and CEO Andrew McKee. "We hope that AGF's excitement and passion is
contagious and encourages even more mutual fund companies to get involved in
this year's Ride events."
    For more information on JDRF's 2008 Ride for Diabetes Research, go to:

    About Juvenile Diabetes Research Foundation Canada:

    Juvenile Diabetes Research Foundation (JDRF) is the lead charitable
funder and advocate of Type 1 diabetes research worldwide. The mission of JDRF
is to find a cure for diabetes and its complications through the support of
research. JDRF funding and leadership is associated with most major scientific
breakthroughs in Type 1 diabetes research to date. In fact, JDRF funds a major
portion of all Type 1 diabetes research worldwide, more than any other
nongovernmental source of funding. In 2007, JDRF Canada provided $8 million to
diabetes research. Worldwide, JDRF is responsible for more than $1.2 billion
in direct funding.

    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
approximately $49 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".

For further information:

For further information: contact AGF Corporate Communications: Lucy
Becker, Vice-President, (416) 865-4284,; Karen Archer,
Media Relations Manager, (416) 865-4295,

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