Altamira Investment Services Proposes Fund Mergers to Simplify Investor Portfolio Construction

    TORONTO, June 29 /CNW/ - Altamira Investment Services today announced six
proposed fund mergers. These mergers will provide greater transparency among
Altamira's mandates and continue to offer investors a broad range of
investment choice.
    "The proposed mergers will result in potential savings as a result of
economies of scale associated with the larger continuing funds. Additionally,
the streamlined family of funds will make it easier for investors to work with
the Altamira advisor to build and manage portfolios that are best matched to
their personal needs and goals," says Altamira's Chief Operating Officer,
James Whitman.
    The proposed fund mergers are subject to investor and regulatory
approval. Investors will be asked to vote on these changes by Proxy at a
Special Meeting of Unitholders, which takes place on or about September 4,
2007 in Toronto. Investors will receive a Proxy package in early August that
includes an Information Circular containing details of the proposed fund
mergers and a Proxy to vote on them.

                            Proposed Fund Mergers
    Each Terminating Fund will merge with and adopt the investment objectives
                    of its corresponding Continuing Fund.
       Terminating Funds                             Continuing Funds
    Altamira Global 20 Fund                  Altamira Global Value Fund
    Altamira Global Financial                Altamira Global Value Fund
     Services Fund
    Altamira e-business Fund                 Altamira Science and Technology
    Altamira Biotechnology Fund              Altamira Health Sciences Fund
    Altamira Precision Dow 30                Altamira Precision US RSP Index
     Index Fund                               Fund (to be renamed "Altamira
                                              Precision US Currency Neutral
                                              Index Fund")
    Altamira Precision European              Altamira Precision European
     RSP Index Fund                           Index Fund

    Effective 4:00 pm EST on July 30, 2007, the terminating funds will be
closed to new purchases, except for purchases under existing systematic plans.
Existing systematic plans will carry over to the continuing funds following
the mergers.
    If investor and regulatory approval is obtained, the mergers will be
implemented on or about the close of business on September 7, 2007.
    In addition, provided that the Altamira Precision European RSP Index Fund
merger goes ahead, Altamira Investment Services will decrease the management
fee and expenses charged to Altamira Precision European Index Fund. Currently,
Altamira Precision European Index Fund pays a maximum management fee of 0.50%
plus operating expenses of up to 0.70% (plus taxes). In order to accommodate
the merger of Altamira Precision European RSP Index Fund into Altamira
Precision European Index Fund, Altamira Investment Services will reduce the
management fee for Altamira Precision European Index Fund to 0.45% and cap its
operating expenses at 0.50% (excluding taxes).

    About Altamira

    Altamira Investment Services is a leading provider of financial and
retirement planning services offering a wide range of investment solutions
including mutual funds, savings accounts, principal-protected notes and
managed portfolio services. Award-winning client service, product innovation
and expert advice define Altamira's distinctive approach to investment
management. The company is headquartered in Toronto with offices across the
country, and is a subsidiary of the National Bank of Canada.

For further information:

For further information: Media contact: Crystal Jongeward, Public
Relations Specialist, (416) 507-7252,

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