AGF Reports February 2008 Mutual Fund Sales

    TORONTO, March 4 /CNW/ - AGF Management Limited (AGF) reported gross
sales of long-term funds of $420.4 million and net sales of long-term funds of
$31.4 million for the month ended February 29, 2008. Total mutual fund assets
under management (AUM) were $27.7 billion as at February 29, 2008.
    "February sales of long-term funds, while positive, were slow compared to
2007 as investors remained cautious," said Blake C. Goldring, Chairman and
Chief Executive Officer, AGF Management Limited. "During these periods of
market uncertainty, AGF is well-positioned for future success, remaining
focused on our strong fundamentals and long-term objectives."

    ($ millions)   Assets at  Gross Sales  Redemptions  Net Sales  Net Sales
                    February     February     February   February   February
                       29/08         2008         2008       2008       2007
    Long-term funds  $27,218       $420.4       $389.0      $31.4     $548.6
    Money market         485         27.1         23.1        4.0       (9.0)
    Total mutual
    funds            $27,703       $447.5       $412.1      $35.4     $539.6
    Institutional +
    high-net-worth    21,582
    Total Assets     $49,285

    Average daily mutual fund AUM for February 2008 was $27.6 billion. AGF
institutional and high-net-worth AUM declined 5.7% to $21.6 billion, down from
$22.9 billion one year ago, with approximately half of the decline due to
market volatility and the remainder due to client rebalancing and redemptions,
which were non-performance related.

    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: AGF Management Limited shareholders and
analysts, please contact Greg Henderson, CA, Senior Vice-President and Chief
Financial Officer, (416) 865-4156,; Media, please
contact Lucy Becker, Vice-President, Corporate Communications, (416) 865-4284,

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