Mackenzie and Putnam announce change to Putnam Canadian Funds

    TORONTO, Dec. 31 /CNW/ - Mackenzie Financial Corporation ("Mackenzie"),
and Putnam Investments Inc. ("Putnam"), announced today that Mackenzie will
assume responsibility as trustee and manager for the following Putnam mutual
funds in Canada, effective December 31, 2007:

    -  Putnam Canadian Balanced Fund      -  Putnam Global Equity Fund (*)

    -  Putnam Canadian Bond Fund          -  Putnam U.S. Value Fund

    -  Putnam Canadian Equity Fund        -  Putnam U.S. Voyager Fund

    -  Putnam Canadian Equity Growth      -  Putnam International Equity
       Fund                                  Fund (*)

    -  Putnam Canadian Money Market Fund

    (*)Distinct funds for Canadian investors only and unrelated to Putnam's
       U.S. funds.

    Putnam and Mackenzie became affiliates earlier this year when Great-West
Lifeco Inc. acquired Putnam Investments. Great-West Lifeco Inc. is a member of
the Power Financial Corporation group of companies. Mackenzie, a wholly owned
subsidiary of IGM Financial Inc., is also a member of the Power Financial
Corporation group of companies.
    While Mackenzie will take on operational and distribution-related
responsibilities for the funds, investment management responsibilities will
not change. Putnam Investments will continue to act as sub-advisor for Putnam
U.S. Value Fund, Putnam International Equity Fund, Putnam Global Equity Fund
and Putnam U.S. Voyager Fund. Sceptre Investment Counsel Limited will continue
to act as sub-advisor to Putnam Canadian Bond Fund, Putnam Canadian Money
Market Fund, Putnam Canadian Balanced Fund, Putnam Canadian Equity Fund, and
Putnam Canadian Equity Growth Fund.
    It is anticipated that, later in 2008, the change in business management
of the Putnam Funds in Canada will provide investors with the ability to
switch their investments across the full Mackenzie platform, allowing
investors to benefit from Mackenzie's existing strong client service and
larger operational platform.

    Mackenzie Investments

    Mackenzie Investments was founded in 1967, and is a leading investment
management firm providing investment advisory and related services. With
$63.2 billion in assets under management as of November 30, 2007, Mackenzie
Investments distributes its services through a diversified network of
third-party financial advisors. Mackenzie Investments 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 over $123 billion in total assets
under management as of November 30, 2007.

    Putnam Investments:

    Founded in 1937, Putnam Investments is one of the world's oldest and
largest money management firms. As of November 30, 2007, Putnam managed
$185 billion in assets, of which $114 billion is for mutual fund investors and
$71 billion is for institutional accounts. Putnam has offices in Boston,
London and Tokyo. For more information, go to

For further information:

For further information: Catharine Marion or Mike Langdon, Environics
Communications, (416) 969-2809, (416) 969-2820,,; Nancy Fisher, Putnam Investments, (617) 760-1608,

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