AGFIA Named Advisor for AGF Canadian Value Funds

    Proven Investment Discipline Expanded to All AGF Value Mandates

    TORONTO, Nov. 23 /CNW/ - AGF Funds Inc. today announced the appointment
of AGF International Advisors Company Limited (AGFIA) as the Portfolio Advisor
to its Canadian value funds. This appointment gives AGFIA the mandate to apply
the proven benefits of its value investment strategy to all AGF value funds.
    Effective today, AGFIA is the Portfolio Advisor for the AGF Canadian
Value Fund and the AGF Canadian Balanced Value Fund, previously called the AGF
Canadian Real Value Fund and the AGF Canadian Real Value Balanced Fund. AGFIA
veteran John Arnold, supported by Niall Dineen and Richard McGrath, will
advise on these Canadian value funds. AGF Funds Inc. remains Portfolio Manager
for both Canadian value funds.
    "This is a significant move for AGF and reinforces our commitment to
building a world-class team and consistency in the investment management
processes we use," said Funds Inc. President Randy G. Ambrosie. "We are
excited about the potential that this appointment creates for investors in our
Canadian value funds by having the AGFIA team apply the same process it has
used successfully on other funds to identify the best value opportunities in
    Using its proven value investment process, AGFIA seeks out quality
franchises that are currently out of favour, backs the findings with rigorous
due diligence and then patiently holds those stocks until they realize value.
    AGF established the Dublin-based AGFIA in 1991. In 2006, AGF named AGFIA
as Portfolio Advisor to its international value funds.
    AGF's Canadian value funds had been previously managed by Keith Graham,
who has decided to leave the firm.

    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 $55 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,; Paul Howard, Director,
(416) 865-4345,

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