Russell Adds New Growth Manager to U.S. Equity Portfolio

    TORONTO, June 27 /CNW/ - Russell Investments Canada Limited ("Russell")
is pleased to announce that it has appointed Cornerstone Capital Management
("Cornerstone") a Minnesota-based money management firm, to manage a portion
of the Russell US Equity Fund ("Fund") and Sovereign US Equity Pool ("Pool").
As part of this appointment, Ark Asset Management Co., Inc. is no longer a
manager in the Fund or the Pool.
    "After extensive manager research and evaluation, Russell determined
Cornerstone to be a highly-ranked manager with significant outperformance
potential. Cornerstone represents one of the highest forecasted alpha managers
in the growth universe," says Sadiq S. Adatia CFA, FSA, FCIA, who has over ten
years of investment experience and will be responsible for the ongoing
management of all of the LifePoints portfolios as well as the Russell Canadian
Equity Fund and the Sovereign Canadian Equity Pool.
    Cornerstone's investment philosophy is based on its belief that
investment success can be achieved by purchasing long-term quality growth
stocks when its research identifies one or more underappreciated
    The manager change was completed as part of Russell's multiple-manager
process, which seeks to emphasize stock selection skill while providing broad
diversification in each of its pools and funds. Each year, Russell evaluates
more than 1,500 outside investment manager teams globally as part of a
continual research process. Through its investment management subsidiaries,
Russell blends these fund assignments to create diversified portfolios of
managers, investment styles and assets, which are designed to manage risk and
provide consistent performance over the long term.

    About Russell

    Russell Investment Group is a global leader in multi-manager investing
and one of the world leaders in investment consulting. Russell advises
institutional clients with total assets of over C$2.0 trillion and manages
approximately C$230 billion in its investment management business, which
employs Russell's MULTI-ASSET MULTI-STYLE MULTIMANAGER(R) investment process.
    Russell supports its global operations by monitoring more than 4,000
manager firms and their 8,600 products.
    The company serves institutional and individual investors with a full
range of investment services, including investment consulting, investment
funds which include private equity and hedge funds, transition management,
commission recapture and stock indexes. Founded in 1936, Russell has its
headquarters in Tacoma, Washington, USA and has principal offices in Toronto,
New York, London, Paris, Sydney, Singapore, Auckland, and Tokyo. Russell
Investments Canada Limited is a wholly-owned subsidiary of Frank Russell
Company. For more information, please go to
    Russell Investment Group is a registered trade name of Frank Russell
Company, a Washington, USA corporation. It operates in Canada through its
subsidiary Russell Investments Canada Limited. Frank Russell Company is a
subsidiary of The Northwestern Mutual Life Insurance Company.

    Commissions, trailing commissions, management fees and expenses all may
    be associated with mutual fund investments. Please read the prospectus
    before investing. Mutual funds are not guaranteed, their values change
    frequently and past performance may not be repeated.

For further information:

For further information: Catherine Winchell, Russell Investments Canada,
(416) 640-6899

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Russell Investments Canada Limited

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