CI Financial announces successful completion of offer to acquire Rockwater

    TSX Symbol: CIX.UN
    Symbol: RCC

    TORONTO, April 4 /CNW/ - CI Financial Income Fund ("CI") and Rockwater
Capital Corporation ("Rockwater") announced today that in excess of 90% of the
outstanding Rockwater shares have been deposited to CI's offer (the "Offer")
to purchase all of the outstanding Rockwater shares. CI and Rockwater also
announced today that CI has taken up all of the shares deposited to the Offer.
    As indicated in CI's offer circular dated February 23, 2007, having
acquired in excess of 90% of the outstanding Rockwater shares, CI intends to
forthwith acquire the Rockwater shares not deposited under the Offer on the
same terms as the Rockwater shares acquired under the Offer pursuant to the
compulsory acquisition rules and otherwise in accordance with applicable laws.

    CI Financial Income Fund (TSX: CIX.UN) is an independent, Canadian-owned
wealth management company with approximately $84.3 billion in fee-earning
assets as of March 31, 2007. CI offers a broad range of investment products
and services, including an industry-leading selection of investment funds. CI
is on the Web at

    Rockwater Capital Corporation (TSX: RCC) is an independent financial
services company in three related businesses: investment counseling and
portfolio management (KBSH Capital Management Inc.), retail investment
management (Lakeview Asset Management Inc.) and a full service investment
dealer (Blackmont Capital Inc.). For more information on Rockwater, please

    This press release contains forward-looking statements with respect to CI
and Rockwater and their respective products and services, including their
business operations and strategy and financial performance and condition.
Although management of CI and Rockwater believe that the expectations
reflected in such forward-looking statements are reasonable, such statements
involve risks and uncertainties. Actual results may differ materially from
those expressed or implied by such forward-looking statements. Factors that
could cause actual results to differ materially from expectations include,
among other things, general economic and market factors, including interest
rates, business competition, changes in government regulations or in tax laws,
and other factors discussed in materials filed with applicable securities
regulatory authorities from time to time.

For further information:

For further information: William T. Holland, Chief Executive Officer, CI
Financial, (416) 364-1145

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