AGF Increases Foreign Content Maximums

    TORONTO, April 26 /CNW/ - AGF Funds Inc. today announced that it is
increasing the foreign content limits on seven of its equity funds. The
maximum limits are effective immediately.
    "We want to ensure AGF funds continue to be managed in the best interest
of our clients and investors," said Randy G. Ambrosie, President of AGF Funds
Inc. "With the federal government's changes to allow more foreign content, our
portfolio managers will have another tool to gain greater access to the
numerous attractive opportunities abroad. They will also have more securities
within sectors to choose from in enhancing portfolio diversification."
    Executive Vice-President and Chief Investment Officer Martin Hubbes
explained that AGF portfolio managers are welcoming the freedom and
flexibility to diversify outside of Canada but added that the new limits will
not change how the funds are currently being managed.
    "It will be up to each of the managers to decide if and by how much they
want to increase the foreign content and this will depend on their investment
styles and strategies," said Mr. Hubbes. "Attractive investment opportunities
and the potential for long-term returns will continue to determine where we
invest - whether in Canada or overseas."

    The following table outlines the maximum allowable foreign content

    Funds                           Managers        New Foreign Content Limit
    AGF Canada Class                Martin Hubbes           Up to 10%
    AGF Canadian Stock              Martin Hubbes           Up to 49%
    AGF Canadian Real Value         Keith Graham            Up to 49%
    AGF Canadian Growth Equity      Charles Oliver          Up to 49%
    AGF Canadian Small Cap          Charles Oliver          Up to 49%
    AGF Canadian Resources          Charles Oliver          Up to 49%
    AGF Precious Metals             Charles Oliver          Up to 49%

    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. 2007
marks AGF's 50th anniversary of providing Canadians with innovative investment
solutions across the wealth continuum. 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 Private Investment
Management, Institutional Account Services 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".

For further information:

For further information: or to arrange an interview with a fund manager,
contact: AGF Communications, Lucy Becker, Vice-President, (416) 865-4284,; Karen Archer, Media Relations Specialist, (416) 865-4295,; Analyst Contact: Adrian Basaraba, Vice-President,
Finance and Investor Relations, (416) 865-4203,

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