CIBC Mellon appointed asset servicing provider by Excel Funds Management Inc.

    TORONTO, June 26 /CNW/ - CIBC Mellon Global Securities Services Company
today announced its appointment by Excel Funds Management Inc. to act as
custodian for the company's family of mutual funds and the Excel India Trust -
a closed end investment trust investing in India.
    "Excel Funds Management offers a series of growth-oriented mutual funds,
which are designed to take advantage of the fast-paced growth of the world's
developing markets. We are an innovative company and it was important for us
to identify a partner who shares this philosophy," said Bhim Asdhir, president
and chief executive officer of Excel Fund Management Inc. "CIBC Mellon's
superior technology, and global service capabilities made this appointment a
logical next step for us as we move into the next phase of our company's
    "We are pleased to be Excel Fund Management's service provider of choice,
providing global asset servicing, including fund accounting, and foreign
exchange capabilities for their Canadian products," said Thomas C. MacMillan,
president and chief executive officer, CIBC Mellon. "With Workbench, our
award-winning technology, and our people's expertise and commitment to client
service excellence, we look forward to supporting Excel Fund Management and
their clients."

    Founded in 1998, Excel Funds Management Inc. is a specialized fund
management company that focuses exclusively on investment opportunities in
emerging markets. Excel manages highly ranked and award winning funds,
including the Excel India Fund, Excel China Fund, Excel Chindia Fund and the
Excel Income and Growth Fund and currently has approximately $600 million in
assets under management. For more information visit Excel Fund Management's
website at

    CIBC Mellon is a 50-50 joint venture between Canadian Imperial Bank of
Commerce and Mellon Financial Corporation. CIBC Mellon Global Securities
Services Company is a leading provider of custody services including global
custody, multicurrency accounting, information delivery, securities lending
and foreign exchange services in Canada. CIBC Mellon is part of The Mellon
Group (CIBC Mellon, ABN AMRO Mellon Global Securities Services and Mellon
Global Securities Services), which has US$5.8 trillion in assets under
management, administration or custody, including US$1.034 trillion under
management. CIBC Mellon Global Securities Services Company is a sister company
to CIBC Mellon Trust Company. Visit CIBC Mellon's website at

    CIBC Mellon Global Securities Services Company is a licensed user of the
    CIBC and Mellon trademarks.

For further information:

For further information: Cheryl Ficker, director, corporate affairs,
CIBC Mellon, (416) 643-6368

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