AGF Managed Futures Fund To Be Terminated

    TORONTO, Aug. 27 /CNW/ - AGF Funds Inc. (AGFFI), as Trustee and Manager,
announced today that AGF Managed Futures Fund will be terminated on November
9, 2007.
    Effective today, units of AGF Managed Futures Fund are no longer
available for purchase.
    Prior to termination on November 9, 2007, unit holders of the fund have
the option to switch their investment to any of AGF's family of more than 50
mutual funds or to redeem their units. Any remaining assets on the termination
date will be invested, without sales charges, in units of AGF Canadian Money
Market Fund.
    AGF is encouraging unit holders to consult with their financial advisor
about their options to determine the solution that best meets their investment
needs and circumstances.
    The combination of relatively low investor interest and lack of economies
of scale based on the small size of assets in the Fund led to the decision to
terminate the fund. Volatility in the commodities market, coupled with
changing consumer preferences, has resulted in relatively flat sales in this
market. The Fund, first launched in 1995, had less than $10 million in total
net assets as of July 31, 2007.

    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 Institutional Account
Services, private client products, and AGF Trust GICs, loans and mortgages.
With approximately $55 billion in total assets under management as at July 31,
2007, 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: AGF Corporate Communications, Lucy Becker,
Vice-President, (416) 865-4284,; Paul Howard, Director,
(416) 865-4345,

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