Galileo Funds Inc. announces proposed fund mergers and fund termination

    TORONTO, April 15 /CNW/ - Galileo Funds Inc. ("Galileo"), the trustee and
manager of the Galileo family of mutual funds, today announced that it
proposes to merge four of the Galileo Funds (the Galileo Absolute Return Fund,
Galileo Canadian Active/Passive Fund, Galileo Fund and Galileo Global
Active/Passive Fund) into Galileo Small/Mid Cap Fund, which will be the
continuing fund. The proposed mergers are subject to the receipt of all
necessary unitholder and regulatory approvals. Details of the proposed mergers
will be set out in a notice of meeting and information circular that will be
sent to unitholders in April in advance of unitholder meetings to be held on
May 15, 2009. The investment objective of Galileo Small/Mid Cap Fund is to
provide capital growth; the fund invests primarily in shares of smaller and
medium North American companies that are expected to profit from future
economic growth, and may also invest in income and royalty trusts.
    Galileo also announced that it will be terminating the Galileo Money
Market Fund effective June 19, 2009. Unitholders of Galileo Money Market Fund
will continue to be able to redeem their units until the termination date, and
any units of Galileo Money Market Fund that have not been redeemed prior to
the termination date will be automatically redeemed on the termination date.

For further information:

For further information: Michael Waring, President of Galileo Funds
Inc., at (416) 594-1886 or

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