AGF World Opportunities Fund To Be Terminated

    TORONTO, Feb. 17 /CNW/ - AGF Funds Inc. announced today that AGF World
Opportunities Fund will be terminated on April 20, 2009. Effective today,
units of AGF World Opportunities Fund are no longer available for purchase.
    The decision to terminate the Fund was driven by a combination of the
small number of unit holders, relatively low assets and the costs associated
with maintaining such a small fund.
    Prior to the termination on April 20, 2009, unit holders of the Fund will
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 redeemed and re-invested in units of AGF Canadian
Money Market Fund or AGF U.S. Dollar Money Market Account, depending on the
currency denomination of the assets. Unit holders will not be required to pay
any redemption fees or sales charges.
    AGF is encouraging unit holders to consult with their financial advisor
to determine the solution that best meets their individual investment needs
and circumstances.

    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 $33.7 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 Corporate Communications, Lucy Becker,
Vice-President, (416) 865-4284,; Christine Ramsay,
Communications Manager, (416) 815-6321,

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