Russell Investments Announces Manager Changes to Canadian Equity Portfolios

    TORONTO, July 22 /CNW/ - Russell Investments Canada Limited ("Russell")
is pleased to announce the following investment manager changes in the Russell
Sovereign Investment Program and LifePoints Portfolios:

    Russell Sovereign Investment Program
    Russell Canadian Equity Pool

    Goodman & Company, Investment Counsel Ltd ("Goodman Canadian Equity
Growth") has been added to the Russell Canadian Equity Pool ("the Canadian
Equity Pool").
    The Canadian Equity Pool is part of the Russell Sovereign program - which
is currently in its 15th year of providing multi-leveled risk protection and
long-term performance for individual investors.

    Russell Group of Funds
    Russell Canadian Equity Fund

    Goodman Canadian Equity Growth and Aurion Capital have been added to the
Russell Canadian Equity Fund ("the Canadian Equity Fund").
    Coincident with this appointment, Sanford C. Bernstein & Co. LLC is no
longer a manager in the Russell Canadian Equity Fund.
    The Canadian Equity Fund is an underlying multi-manager fund in
LifePoints(R) Portfolios. Russell's innovative fund-of-funds solution is
available to both individual and institutional investors.
    Russell views these manager changes as structural enhancements to the
manager line-ups in Russell Sovereign and LifePoints.

    About Russell

    Russell Investments provides strategic advice, world-class
implementation, state-of-the-art performance benchmarks and a range of
institutional-quality investment products. With nearly US$213 billion in
assets under management (as of 3/31/08), Russell serves individual,
institutional and advisor clients in more than 40 countries. Russell provides
access to some of the world's best money managers. It helps investors put this
access to work in corporate defined benefit and defined contribution plans,
and in the life savings of individual investors.
    Founded in 1936, Russell Investments is a subsidiary of Northwestern
Mutual Life Insurance Company and headquartered in Tacoma, Wash. Russell has
principal offices in Amsterdam, Auckland, Johannesburg, London, Melbourne, New
York, Paris, San Francisco, Singapore, Sydney, Tokyo and Toronto.
    Russell Investments Canada Limited is a wholly-owned subsidiary of Frank
Russell Company. For more information, please go to

    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.
    Nothing in this publication is intended to constitute legal, tax
securities or investment advice, nor an opinion regarding the appropriateness
of any investment, nor a solicitation of any type. This is a publication of
Russell Investments Canada Limited and has been prepared solely for
information purposes. It is made available on an "as is" basis. Russell
Investments Canada Limited does not make any warranty or representation
regarding the information.

    Date of First Publication: July 22.

    Russell Investments logo is a trademark of Frank Russell Company

For further information:

For further information: Thien Huynh, (416) 640-2529

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Russell Investments Canada Limited

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