Northwest Mutual Funds Will Assume the Asset-backed Commercial Paper in Its Money Market Fund

    TORONTO, Aug. 24 /CNW/ - Northwest Mutual Funds today announced that,
subject to approval by regulatory authorities, it will assume the asset-backed
commercial paper (ABCP) assets issued by third parties currently held in its
Northwest Money Market Fund.
    Northwest Money Market Fund performance has not been affected by the
situation in the ABCP market. By redeeming its units in this asset class,
Northwest Mutual Funds is reconfirming its commitment to providing its
investors with rigorous risk control management and sheltering them from the
uncertainty currently prevailing in the ABCP market.

    About Northwest

    With over $3 billion in assets under administration, Northwest has
consistently been one of the fastest growing fund companies in Canada (IFIC).
Launched by Butler in 1997, Northwest today is a wholly owned subsidiary of
Desjardins who purchased Northwest in September 2003. Northwest is
headquartered in Toronto with offices in Vancouver and Montreal. Northwest
Funds are distributed solely through financial advisors and stock brokers.

For further information:

For further information: Michael Butler, President and COO, Northwest
Mutual Funds, (416) 594-6633, ext. 201,

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