Galileo Funds Inc. Announces Implementation of Independent Review Committee

    TORONTO, Oct. 26 /CNW/ - Galileo Funds Inc. announced the implementation
of the Independent Review Committee ("IRC") for its mutual funds pursuant to
National Instrument 81-107, which applies to all publicly offered investment
    The IRC for Galileo Funds is comprised of three members, all of whom are
independent from Galileo Funds Inc. and its affiliates. The IRC members are:

    John Willson
    Tom Caswell
    Jerry Giroux

    The IRC has implemented the requirements of National Instrument 81-107
and is fully compliant with the regulation. "We're pleased to have an
Independent Review Committee with such knowledge and experience", says Michael
Waring, President, Galileo Funds. "The IRC complements our ongoing commitment
to effective fund governance practices."

    About Galileo Funds Inc.

    Galileo Funds Inc. is one of the fastest growing new mutual fund groups
and has Canada's only active/passive funds. It is a wholly owned subsidiary of
Galileo Global Equity Advisors Inc., which serves institutional and private
wealth clients and is the portfolio manager of the Galileo Funds as well as
the Citadel Group of Funds' Energy Plus Income Trust, Sustainable Production
Energy Trust and CGF Resource 2006 Flow-Through Limited Partnership. Please
visit the Company's website at

For further information:

For further information: Dan Hall, Executive Vice President, (416)

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