CI Financial implements new standards for independent review committees

    TSX Symbol: CIX.UN

    TORONTO, April 3 /CNW/ - CI Financial Income Fund ("CI") announced today
that its subsidiaries CI Investments Inc. and United Financial Corporation are
fully compliant with national securities regulations requiring independent
review committees for public investment funds.
    CI's Board of Governors has taken the final steps to implement National
Instrument 81-107, Independent Review Committee for Investment Funds ("NI
81-107"), effective April 2, 2007.
    CI's Board of Governors was established in 1998 to provide independent
oversight and impartial judgment on conflicts of interest involving CI's
investment funds. The Board provides recommendations to CI Investments and
United Financial as to how such conflicts can be resolved with a view to the
best interests of investors in the funds.
    CI's Board of Governors has followed the general principles set out in
NI 81-107 since Canadian securities regulators proposed the policy in early
2004. Relatively minor recent changes to the Board's mandate were required to
bring the Board into full compliance with NI 81-107.
    "The Board of Governors is an important part of the wide-ranging policies
and procedures we have put in place to ensure the good governance of our
funds," said Stephen A. MacPhail, President and Chief Operating Officer. "The
Governors are experienced in business and finance and familiar with our
operations and will continue to be effective advocates for investors under the
new mandate."
    CI's Board of Governors is comprised of four members, all of whom are
independent of CI and its affiliates. Their tenures on the Board range from
21 months to over five years. The Governors are:

    -   William Harding, Managing Partner, Alpine Asset Advisors AG;
    -   Stuart P. Hensman, Corporate Director;
    -   Stephen T. Moore, Managing Director, Newhaven Asset Management Inc.;
    -   Sharon M. Ranson, President, The Ranson Group.

    CI Financial Income Fund (TSX: CIX.UN) is an independent, Canadian-owned
wealth management firm 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, and is
on the Web at

For further information:

For further information: Stephen A. MacPhail, President and Chief
Operating Officer, (416) 364-1145

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