Investors Group announces fund mergers

    WINNIPEG, June 24 /CNW/ - Investors Group today announced the following
proposed mergers involving funds with similar existing mandates. These
mergers, which require securityholder and regulatory approval, are expected to
provide enhanced diversification opportunities and in some cases lower
management and administration fees.

          Merging Fund/Class                      Continuing Fund/Class
    IG Templeton World Allocation     into     Investors Tactical Asset
    Fund                                       Allocation Fund
    IG FI U.S. Equity Fund/Class(*)   into     IG AGF U.S. Growth Fund/
    IG FI Global Equity Fund/Class(*) into     Investors Global Fund/Class(*)

    Securityholders of record (as of July 14, 2008(xx)) holding units or
shares of the Merging Funds (and Continuing Classes(xxx)) will receive a
Notice of Meeting, Proxy Form and Management Information Circular dealing with
the changes. Securityholder meetings are scheduled for September 2, 2008. If
approved, these changes are scheduled to take effect after the close of
business on September 5, 2008.
    Adjustments will also be made to the composition of the Allegro(TM)
Conservative and Allegro(TM) Moderate Conservative Portfolios, in conjunction
with the merger involving the IG FI U.S. Equity Fund. Also, the Allegro
Moderate Conservative Portfolio will be rebalanced to invest 8% of its assets
in IG FI Canadian Equity Fund with an offsetting decrease in the Portfolio's
current investment in the IG Mackenzie Maxxum Canadian Equity Growth Fund.
    The IG Funds Independent Review Committee approved the above fund mergers
at a meeting held on June 23, 2008.

    (*)    This mutual fund is a separate class of shares issued by Investors
           Group Corporate Class Inc.

    (xx)   If you acquire units or shares after July 14, 2008 in a fund for
           which a securityholder meeting is being held, you may be entitled
           to vote, provided you establish proper ownership of units of that
           Fund and request, at least 10 days before your fund's meeting, to
           be included in the list of securityholders of that Fund for
           purposes of voting at your Fund's meeting. More information about
           the mergers may be found in the Management Information Circular, a
           copy of which may be obtained by contacting your Investors Group
           Consultant. These documents are also available at
           and at

    (xxx)  As required by corporate legislation, securityholders of
           IG AGF U.S. Growth Class and Investors Global Class will also be
           asked to vote on the applicable mergers.

    Investors Group, founded in 1926, is a national leader in delivering
personalized financial solutions to Canadians through a network of over
4,300 Consultants located throughout Canada. In addition to an exclusive
family of mutual funds and other investment vehicles, Investors Group offers a
wide range of insurance, securities, mortgage and other financial services.
Investors Group is a member of the IGM Financial Inc. (TSX: IGM) group of
companies. IGM Financial is one of Canada's premier financial services
companies with $124 billion in total assets under management.
    Commissions, trailing commissions, management fees and expenses all may
be associated with mutual funds investments. Please read the prospectus before
investing. Mutual funds are not guaranteed, their values change frequently and
past performance may not be repeated. The Funds are distributed across Canada
by Investors Group Financial Services Inc., (in Quebec, a financial services
firm), and Investors Group Securities Inc. (in Quebec, a firm in financial

For further information:

For further information: Ron Arnst, Media Relations, (204) 956-3364,

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