AGF Master Limited Partnership - Global Strategy Master LP

    TORONTO, March 8 /CNW/ - In light of recent activity with respect to the
price and volumes of units traded, we confirm that as of March 8, 2007 there
have been no new material corporate developments in AGF Master Limited
Partnership and Global Strategy Master LP (the "Partnerships") since the last
public filings. The Partnerships' primary source of revenue is distribution
fees earned on certain open-ended mutual funds sold on a contingent redemption
fee basis ("Fund Units"). These future streams of revenues are a function of
the market value of the Fund Units and the rate and timing of redemptions of
the Fund Units. Distribution fees are expected to continue to decline in the
future as the Fund Units are reduced by ongoing redemptions. Cash
distributions from the Partnerships are made quarterly and the total annual
cash distributions per limited partnership unit for the years ended
December 31, 2004, 2005 and 2006 were as follows:

    AGF Master Limited Partnership: $0.91, $0.69 and $0.61 respectively.
    Global Strategy Master LP: $0.25, $0.19 and $0.16 respectively.

    For Canadian tax purposes the Partnerships' units are only available for
investment by Canadian residents.

    This press release includes forward-looking statements about the
Partnerships, including their business operations, strategy and expected
financial performance and condition. Forward-looking statements include
statements that are predictive in nature, depend upon or refer to future
events or conditions, or include words such as 'expects', 'anticipates',
'intends', 'plans', 'believes', or negative versions thereof and similar
expressions. In addition, any statement that may be made concerning future
financial performance (including revenues, earnings or growth rates), ongoing
business strategies or prospects, and possible future action on our part, is
also a forward-looking statement. Forward-looking statements are based on
certain factors and assumptions including expected growth, results of
operations, business prospects, performance and opportunities. Forward-looking
statements are based on current expectations and projections about future
events and are inherently subject to, among other things, risks, uncertainties
and assumptions about our operations, economic factors and the financial
services industry generally. They are not guarantees of future performance,
and actual events and results could differ materially from those expressed or
implied by forward-looking statements made by us due to, but not limited to
important factors such as level of assets under our management, volume of
sales and redemption of our investment products, performance of our investment
funds and of our investment managers and advisors, competitive fee levels for
investment management products and administration and competitive dealer
compensation levels, size and default experience on our loan portfolio and
cost efficiency in our loan operations, as well as interest and foreign
exchange rates, taxation, changes in government regulations, unexpected
judicial or regulatory proceedings, and our ability to complete strategic
transactions and integrate acquisitions. We caution that the foregoing list is
not exhaustive. The reader is cautioned to consider these and other factors
carefully and not place undue reliance on forward-looking statements. We are
under no obligation (and expressly disclaim any such obligation) to update or
alter the forward-looking statements whether as a result of new information,
future events or otherwise.

For further information:

For further information: Greg Henderson, Director, AGF Partners No. Five
Limited and Global Strategy Master GP Inc., (416) 367-1900

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