Northwest & Ethical Investments L.P. announces results of special meetings of
securityholders

TORONTO and VANCOUVER , Oct. 15 /CNW/ - Northwest & Ethical Investments L.P. ("NEILP") today announced the approval of all proposals submitted to the vote of securityholders of the Northwest, Ethical, Credential, Credential EnRich and Northwest Corporate Class families of funds.

SECURITYHOLDERS APPROVE FIXED ADMINISTRATION FEE

The proposal to establish a fixed administration fee for most of the Northwest, Ethical, Credential and Northwest Corporate Class families of funds to replace variable operating expenses was approved at meetings held on October 14 and 15, 2009. Once implemented, the MER for each of the affected funds will be lower than the current MER.

SECURITYHOLDERS APPROVE FUND MERGERS

Securityholders of the Funds have approved the following fund mergers. On or about October 23, 2009 , each terminating fund will merge into the corresponding continuing fund. Certain funds will also be renamed, as indicated.

    
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    Terminating Fund         Continuing Fund         Fund Name Changes
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    Northwest Canadian       Ethical Income Fund     NEI Canadian Bond Fund
     Bond Fund
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    Northwest Quadrant       Credential Select       Northwest Select
     Conservative             Conservative            Conservative
     Portfolio                Portfolio               Portfolio
    -------------------------------------------------------------------------
    Northwest Quadrant       Credential Select       Northwest Select
     Income Portfolio         Conservative            Conservative
                              Portfolio               Portfolio
    -------------------------------------------------------------------------
    Northwest Quadrant       Northwest Quadrant      Northwest Select
     Growth Portfolio         Balanced Growth         Global Growth
                              Portfolio               Portfolio
    -------------------------------------------------------------------------
    Northwest Quadrant       Northwest Quadrant      Northwest Select
     Global Growth            Balanced Growth         Global Growth
     Portfolio                Portfolio               Portfolio
    -------------------------------------------------------------------------
    Northwest Quadrant       Credential Select       Northwest Select
     Global Equity            High Growth             Global Maximum
     Portfolio                Portfolio               Growth Portfolio
    -------------------------------------------------------------------------
    Northwest Quadrant       Credential Select       Northwest Select
     All Equity               High Growth             Global Maximum
     Portfolio                Portfolio               Growth Portfolio
    -------------------------------------------------------------------------
    Ethical Monthly          Ethical Balanced Fund
     Income Fund
    -------------------------------------------------------------------------
    Ethical Canadian         Ethical Growth Fund
     Index Fund
    -------------------------------------------------------------------------
    Ethical Canadian         Ethical Growth Fund
     Stock Fund
    -------------------------------------------------------------------------
    Ethical Advantage        Ethical Advantage       Ethical Select
     2015 Fund                2010 Fund               Conservative Portfolio
    -------------------------------------------------------------------------
    Ethical Advantage        Ethical Advantage       Ethical Select
     2020 Fund                2010 Fund               Conservative Portfolio
    -------------------------------------------------------------------------
    Ethical Advantage        Ethical Advantage       Ethical Select
     2030 Fund                2010 Fund               Conservative Portfolio
    -------------------------------------------------------------------------
    Ethical Advantage        Ethical Advantage       Ethical Select
     2040 Fund                2010 Fund               Conservative Portfolio
    -------------------------------------------------------------------------
    Credential Money         Northwest Money         NEI Money Market
     Market Fund              Market Fund             Fund
    -------------------------------------------------------------------------
    Northwest Quadrant       Northwest Quadrant      Northwest Select
     Growth Corporate         Balanced Growth         Global Growth
     Class Portfolio          Corporate Class         Corporate Class
                              Portfolio
    -------------------------------------------------------------------------
    Northwest Quadrant       Northwest Quadrant      Northwest Select
     Global Growth            Balanced Growth         Global Growth
     Corporate Class          Corporate Class         Corporate Class
     Portfolio                Portfolio
    -------------------------------------------------------------------------
    Northwest Quadrant       Northwest Quadrant      Northwest Select
     All Equity Corporate     Global Equity           Global Maximum
     Class Portfolio          Corporate Class         Growth Corporate
                              Portfolio               Class
    -------------------------------------------------------------------------
    

For more information please visit www.northwestethical.com.

About Northwest & Ethical Investments L.P.

NEILP is a national investment firm with over $4 billion in assets under management. In simple terms, NEILP's mission is to provide high quality, unique investment solutions. The Northwest Funds and Ethical Funds product suites provide investors with a full range of fund management styles as well as conventional and sustainable investment choices.

NEILP is owned 50% by the Provincial Credit Union Centrals and 50% by Desjardins Group, united in their focus to strengthen and serve the cooperative financial movement across Canada . This backing of experience and vast resources provides economies of scale and allows NEILP to actively support business growth in these networks as well as independent advisor channels.

NEILP has offices in Toronto , Vancouver and Montreal .

For further information: John Mountain, Senior Vice President Legal, CCO & Corporate Secretary, Phone: [phone]; Media Contact: Erika Callowhill, AVP, Marketing and Corporate Communications, E-mail: [email protected], Phone: [phone]