AGF Strengthens Fund Management Team

    Three Portfolio Managers Added to Funds

    TORONTO, Oct. 15 /CNW/ - AGF Funds Inc. today announced that it is
strengthening its fund management by adding Jamie Horvat and Caterina Prato as
Portfolio Managers to the teams managing five AGF funds. Effective

    -   Jamie Horvat has been added to the AGF Canadian Resources Fund
        Limited, AGF Global Resources Class and AGF Precious Metals Fund,
        which are also managed by Bob Farquharson and Charles Oliver.

    -   Caterina Prato has been added to the AGF Canadian Stock Fund and AGF
        Canada Class, managed by Martin Hubbes.

    As well, Driehaus Capital Management LLC has added Dan Rea to the team
managing the AGF Aggressive Global Stock Fund, consisting of Lynette Schroeder
and Meighan Harahan.
    "At AGF, we believe it is important to build strong investment management
teams to help us deliver long term continuity in performance and promote an
environment which encourages innovative thinking, ingenuity and information
sharing. The addition of Jamie, Caterina and Dan as Portfolio Managers to
these funds shows AGF's ongoing commitment to excellence, continuity and
long-term performance," says Martin Hubbes, Executive Vice-President and Chief
Investment Officer AGF Funds Inc. "Their 28 years of combined industry
experience will add to the depth and expertise of AGF's award-winning team of
fund managers and external advisors."
    Horvat has eight years of industry experience, co-manages the AGF
Canadian Small Cap Fund and is Associate Portfolio Manager of the AGF Canadian
Growth Equity Fund.
    With ten years of experience, Prato works closely with Hubbes and is also
an analyst for AGF's North American Equities team.
    Rea is Director of Research, Co-Portfolio Manager and Assistant Portfolio
Manager for Driehaus Capital Management LLC.

    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 $54 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: AGF Communications, Lucy Becker,
Vice-President, (416) 865-4284,; Paul Howard, Director,
Communications, (416) 865-4345,; Karen Archer, Media
Relations Specialist, (416) 865-4295,

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