Focused 40 Income Fund and Clarington Diversified Income + Growth Fund Mergers Approved

    TORONTO, June 10 /CNW/ - IA Clarington Investments Inc. ("IA
Clarington"), today announced that the mergers of Focused 40 Income Fund and
Clarington Diversified Income + Growth Fund (collectively, the "Terminating
Funds"), which were announced in March, 2009 have been approved by investors
in the funds.
    As a result of the mergers, the Terminating Funds will be merged into IA
Clarington Diversified Income Fund, effective June 26, 2009.
    IA Clarington expects that the Terminating Funds will be delisted from
the Toronto Stock Exchange effective June 15, 2009.
    The mergers will take place on or about June 26, 2009, and each of the
Terminating Funds will be wound up immediately after the mergers.

    About IA Clarington Investments Inc.

    IA Clarington Investments Inc., a subsidiary of Industrial Alliance
Insurance and Financial Services Inc., markets a wide range of investment
products, including mutual funds, segregated funds, principal protected notes
and closedend funds managed by leading Portfolio Advisors. IA Clarington
managed over $6 billion in assets as at May 31, 2009.

For further information:

For further information: Eric Frape, Senior Vice President, Product and
Business Development, IA Clarington Investments Inc., (416) 860-9880,
Toll-Free 1-888-860-9888, Email:

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IA Clarington Investments Inc

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