Galileo Funds Inc. completes fund mergers

    TORONTO, June 3 /CNW/ - Galileo Funds Inc., the trustee and manager of
the Galileo Mutual Funds, today announced that it has completed the previously
announced merger of Galileo Absolute Return Fund, Galileo Canadian
Active/Passive Fund, Galileo Fund and Galileo Global Active/Passive Fund (the
terminating funds) into Galileo Small/Mid Cap Fund (the continuing fund). The
mergers were completed effective May 31, 2009. The mergers received securities
regulatory approval, and were approved by unitholders of the terminating funds
and the continuing fund at special meetings of unitholders held on May 15,
    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.

For further information:

For further information: Michael Waring, President of Galileo Funds
Inc., at (416) 594-3636 or

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