Proposed Mergers and Changes to Investment Objective of Certain Desjardins Mutual Funds



    LEVIS, QC, Aug. 30 /CNW Telbec/ - The Fédération des caisses Desjardins
du Québec announced its intention to make a number of changes to the
Desjardins Family of Funds. The adjustments that will be proposed to
unitholders take into account both the trend in demand and the current
realities of the mutual funds market. With this in mind, the Fédération will
ask unitholders to approve the following proposed mergers:

    
    1. Desjardins Select Canadian Equity Fund (a "Terminating Fund") to be
       merged into Desjardins Canadian Equity Value Fund (a "Continuing
       Fund");
    2. Desjardins CI Canadian Investment Fund (a "Terminating Fund") to be
       merged into Desjardins Canadian Equity Value Fund (a "Continuing
       Fund");
    3. Desjardins Fidelity Canadian Growth Fund (a "Terminating Fund") to be
       merged into Desjardins Canadian Small Cap Equity Fund (a "Continuing
       Fund");
    4. Desjardins Select Canadian Balanced Fund (a "Terminating Fund") to be
       merged into Desjardins Canadian Balanced Fund (a "Continuing Fund");
    5. Desjardins Select American Equity Fund (a "Terminating Fund") to be
       merged into Desjardins American Equity Value Fund (a "Continuing
       Fund");
    6. Desjardins Fidelity Global Fund (a "Terminating Fund") to be merged
       into Desjardins Select Global Equity Fund (a "Continuing Fund"),
       contingent upon the unitholders of Desjardins Select Global Equity
       Fund approving a change to the investment objectives of such fund (see
       below under "Proposed Changes to Investment Objectives"), pursuant to
       which it will be re-named Desjardins Global All Cap Equity Fund;
    7. Desjardins Global Science and Technology Fund (a "Terminating Fund")
       to be merged into Desjardins Global Equity Value Fund (a "Continuing
       Fund").

    In addition, the Manager announced that it will be seeking the approval of
unitholders in connection with changes to the investment objectives of
Desjardins Fidelity Small Cap America Fund and Desjardins Select Global Equity
Fund.
    The Manager will be seeking the approval of unitholders to change the
investment objective of Desjardins Fidelity Small Cap America Fund, to read:

    - The investment objective of the fund is to achieve long term capital
      growth by investing in a diversified portfolio of securities of small
      capitalization foreign and Canadian companies

    This change will permit the Fund to make direct investments in issuer's
securities rather than being restricted to investing through another mutual
fund. This change is intended to broaden the Fund's mandate and enhance
diversification by permitting the purchase of securities of issuers located
outside of the U.S. If the change of investment objective is implemented,
Desjardins Fidelity Small Cap America Fund's name will be changed to
Desjardins Global Small Cap Equity Fund.
    The Manager will be seeking the approval of unitholders to change the
investment objective of Desjardins Select Global Equity Fund to read:

    - The investment objective of the fund is to achieve long term capital
      growth by investing in a diversified portfolio of securities of foreign
      and Canadian companies.
    

    This change will permit the Fund to make direct investments in issuer's
securities rather than being restricted to investing through other mutual
funds. This change is intended to broaden the Fund's mandate and enhance
global diversification. If the change of investment objective is implemented
Desjardins Select Global Equity Fund's name will be changed to Desjardins
Global All Cap Equity Fund.
    Special unitholder meetings will be held in November 2007 to consider the
proposed mergers and changes. Subject to applicable unitholder and regulatory
approvals being obtained, these mergers and changes will be completed in
January 2008.

    Desjardins Funds

    With over $12 billion in assets, Desjardins Funds have enjoyed one of the
strongest growths of the industry. Desjardins Funds offer investment products
that meet the requirements, expectations and needs of Desjardins members and
clients so as to provide safeguard and growth to their assets.

    About Desjardins Group

    Desjardins Group is the largest integrated cooperative financial group in
Canada, with overall assets of more than $135 billion, as at December 31,
2006. It comprises a network of caisses, credit unions and business centres in
Québec and Ontario, and some 20 subsidiary companies in life and general
insurance, securities brokerage, venture capital and asset management, many of
which are active across the country. Drawing on the expertise of its
40,000 employees and the commitment of 7,020 elected officers, Desjardins
offers its 5.8 million individual and corporate members and clients a full
range of financial products and services. Its physical distribution network is
complemented by leading-edge virtual access methods. To find out more, consult
www.desjardins.com.




For further information:

For further information: (for media only): André Chapleau, Director
Information and Media Relations, (514) 281-7229, 1-866-866-7000, poste 7229,
andre.chapleau@desjardins.com; Our press releases are available in RSS format
at http://www.desjardins.com/en/rss/


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