Portfolio Manager Succession Announced for AGF Aggressive(TM) Growth Fund and AGF Aggressive(TM) Global Stock Fund

    TORONTO, Oct. 29 /CNW/ - AGF Funds Inc. today announced that Dan Wasiolek
of Driehaus Capital Management LLC (Driehaus) is being added to the teams
managing AGF Aggressive(TM) Growth Fund and AGF Aggressive(TM) Global Stock
Fund. Meighan Harahan, Vice-President of Driehaus, will remain part of the
portfolio management teams for the Funds until her retirement from Driehaus
effective January 31, 2008.
    Since joining Driehaus as a research analyst in 1998, Wasiolek has
assumed increasingly responsible positions with the firm, including portfolio
management responsibilities since 2004. Wasiolek collaborates with Harahan on
investment research, security selection and portfolio construction.
    Driehaus Chairman and Chief Investment Officer Richard H. Driehaus, as
well as Portfolio Managers Jeffery James, Dan Rea and Lynette Schroeder will
continue with their current portfolio management responsibilities related to
the Funds.
    "At AGF, we have a deep commitment to building strong investment
management teams to help us deliver long term continuity in performance," said
AGF Funds Inc. President Randy G. Ambrosie. "This addition of Dan to the
Driehaus team managing these funds is consistent with our team-oriented
portfolio management approach at AGF."
    Driehaus Capital Management LLC, established in 1982 and based in
Chicago, manages portfolios for institutions and high-net-worth individuals
using the earnings growth momentum approach pioneered by Richard H. Driehaus.

    About AGF Management Limited

    AGF Management Limited is one of Canada's premier investment management
companies with offices across Canada and subsidiaries around the world. 2007
marks AGF's 50th anniversary of providing Canadians with innovative investment
solutions across the wealth continuum. AGF's products and services include a
diversified family of more than 50 mutual funds, the evolutionary AGF Elements
portfolios, the Harmony asset management program, AGF Institutional Account
Services, private client products, and AGF Trust GICs, loans and mortgages.
With approximately $54 billion in total assets under management, AGF serves
more than one million investors. AGF trades on the Toronto Stock Exchange
under the symbol "AGF.B".

For further information:

For further information: AGF Corporate Communications, Lucy Becker,
Vice-President, (416) 865-4284, Lucy.Becker@agf.com; Paul Howard, Director,
(416) 865-4345, Paul.Howard@agf.com; Karen Archer, Media Relations Specialist,
(416) 865-4295, Karen.archer@agf.com

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