AGF to Add 10 New Portfolio Managers to its Harmony Managed Asset Program

    Offers investors even greater access to leading institutional asset

    TORONTO, Jan. 19 /CNW/ - AGF Funds Inc. announced that effective today it
is adding 10 new portfolio managers to its popular Harmony managed asset
program. AGF has increased the number of portfolio managers on three of the
Harmony pools to further enhance portfolio diversification and return
potential for investors.
    "In the current economic environment advisors are telling us that their
clients continue to look for financial solutions that effectively balance risk
management with the potential for returns. Our enhancements to the Harmony
program will give investors even greater access to top institutional
management to help meet those needs," said AGF Funds Inc. President Randy G.
Ambrosie. "The portfolio managers being added to the Harmony program are
leaders in the asset classes they manage and include some of the most
respected institutional asset managers from around the world."

    The portfolio managers assigned to the following Harmony pools include:

    Harmony U.S. Equity Pool
    Current portfolio managers INTECH Investment Management LLC and Systematic
Financial Management LP will be joined on the Harmony U.S. Equity Pool by:

    Goldman Sachs Asset Management, LP - Strategic Value
    Rainier Investment Management, Inc. - Large Cap Growth
    Turner Investment Partners, Inc. - Small Cap Core

    William Blair & Company, LLC will no longer be a portfolio manager for the

    Harmony Overseas Equity Pool
    Current portfolio managers McKinley Capital Management Inc. and Principal
Global Investors LLC will be joined on the Harmony Overseas Equity Pool by:

    AllianceBernstein Canada, Inc. - International Value
    Martin Currie Inc. - GARP
    Tradewinds Global Investors LLC - International Value

    Harris Associates LP will no longer be a portfolio manager for the pool.

    Harmony Canadian Equity Pool
    Current portfolio manager Ridgewood Capital Asset Management Inc. will be
joined on the Harmony Canadian Equity Pool by:

    Connor, Clark & Lunn Investment Management Ltd.- Quantitative Value
    Highstreet Asset Management Inc. - Quantitative Small Cap
    MFC Global Investment Management (Canada) - Large Cap Growth
    Scheer, Rowlett & Associates Investment Management Ltd.
    - Fundamental Value

    Foyston, Gordon & Payne Inc. and AGF Funds Inc. will no longer be
portfolio managers for the pool.

    Each of these portfolio managers were recommended by Wilshire Associates
Incorporated, which provides its independent, third-party money management
expertise to advise on asset allocation, manager selection and portfolio
construction for AGF's Harmony managed asset program.
    "The newly expanded teams of portfolio managers on the pools strongly
complement each other and the Harmony program," said Ambrosie.

    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
approximately $35.8 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.

    Wilshire is a registered service mark of Wilshire Associates
Incorporated, Santa Monica, Calif.

For further information:

For further information: about the portfolio managers being added to the
Harmony managed asset program, visit our website at or contact AGF
Corporate Communications: Lucy Becker, Vice-President, Corporate
Communications, (416) 865-4284,; Karen Danylak, Director,
Corporate Communications, (416) 865-4308,

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