Counsel appoints new portfolio sub-advisor for Counsel Money Market, makes
other announcements

TORONTO, Feb. 3 /CNW/ - Counsel Portfolio Services Inc. ("Counsel") announced today that it has retained Acuity Investment Management Inc. to provide portfolio sub-advisory services for Counsel Money Market.

Acuity will replace Cumberland Private Wealth Management Inc. effective on or about February 5, 2010.

Counsel today also announced that the effective date for the mergers of Counsel Select Canada, Counsel Select America and Counsel Select International into Counsel Canadian Growth, Counsel U.S. Growth, and Counsel International Growth, respectively, will be on or about February 12, 2010.

The addition of Counsel Fixed Income, Counsel Canadian Dividend and Counsel International Growth as underlying funds to Counsel Managed Portfolio will be effective on or about February 12, 2010.

About Counsel Portfolio Services Inc.

Counsel Portfolio Services Inc. is a direct subsidiary of IPC Portfolio Services Inc., which is an indirect subsidiary of Investment Planning Counsel Inc. Counsel was formed to support the partnership between financial advisors and their clients by providing comprehensive, objective portfolio solutions, and exclusively utilizing the strength and expertise of third-party portfolio managers.

Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.

SOURCE Counsel Portfolio Services Inc.

For further information: For further information: Meredith Adolph, Environics Communications, P: (416) 969-2667, E:

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