Russell Adds New Manager to U.S. Equity Portfolios

    TORONTO, Sept. 20 /CNW/ - Russell Investments Canada Limited is pleased
to announce the appointment of Arnhold and S. Bleichroeder Advisers, LLC
("ASB") in the Sovereign US Equity Pool ("the Pool") and the Russell US Equity
Fund ("the Fund").
    ASB will manage 8% of the Pool and 7% of the Fund. Coincident with this
appointment, Jacobs Levy Equity Management, Inc. and Systematic Financial
Management, L.P. are no longer managers in the Sovereign US Equity Pool.
    Arnhold and S. Bleichroeder Advisers established its New York office in
1937. The firm concentrates on asset management, institutional securities
brokerage and clearance, global securities research and trading.

    About Russell

    Russell Investment Group ("Russell") 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$233 billion in its investment management business,
which employs Russell's MULTI-ASSET MULTI-STYLE MULTI-MANAGER(R) investment
    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: Thien Huynh, Russell Investments Canada, (416)

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Russell Investments Canada Limited

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