REVISED VERSION: Mavrix Fund Management Inc. reports Sales and Assets under Management Results for May 2007

    TORONTO, June 1 /CNW/ - Mavrix Fund Management Inc. (TSX: MVX) today
reported Assets under Management (AUM) and sales for the month ending May 31,
2007. Total AUM increased by 0.41% in May to $758.1 million with a year to
date increase of 10.45% and a 14.27% increase compared to May 31, 2006.
    Mavrix reported Net Redemptions of $1.9 million on Gross Sales of
$16.1 million for Mavrix Mutual Funds for the month ended May 31, 2007.
    "Gross Sales of our core funds improved by 12% compared to last month,
mostly in our growth, small cap and short term funds," said David Balsdon,
Vice-President and Secretary-Treasurer, "With positive over-all fund
performance for May, Mavrix Mutual Funds Total AUM finished the month at a new
record high."

                           Assets as at     Assets as at        Assets as at
                           May 31, 2007     December 31, 2006   May 31, 2006
    Mavrix Mutual Funds    $564,927,988     $493,163,106        $490,526,616
    Specialty Funds        $193,209,041     $193,223,889        $172,926,451
    Total Assets           $758,137,029     $686,386,995        $663,453,067

    All amounts are expressed in Canadian dollars.

    Mavrix Fund Management Inc. is a growing Canadian asset management
company with shares listed on the Toronto Stock Exchange. Its stock symbol is

    %SEDAR: 00020385E

For further information:

For further information: Mavrix Fund Management Inc., Toll Free:
1-888-964-3533, Direct: (416) 362-3077, Or visit our website at

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