SEAMARK Mutual Funds Launched

    HALIFAX, Oct. 10 /CNW/ - SEAMARK Asset Management Ltd. is pleased to
announce that for the first time, it is offering its proven investment
discipline to mutual fund investors through its own family of funds.
    Embracing SEAMARK's long-standing investment principles, the SEAMARK
Mutual Funds will seek first to protect, then to grow the value of client
assets. This new family of mutual funds has been launched with the following
initial funds:

    SEAMARK North American Equity Fund

    - Selects from the best investment opportunities available in Canada and
      the U.S. to build a concentrated portfolio "from the bottom up", based
      on SEAMARK's proven approach to equity management.
    - Offered in both a hedged series of units, for investors who want to
      limit their exposure to further increases in the Canadian dollar, and
      an unhedged series of units, for investors willing to accept full
      currency volatility or who expect the Canadian dollar to weaken.

    SEAMARK Canadian Equity Fund

    - Invests in a concentrated portfolio of Canadian equities expected to
      offer superior long-term investment merit based on meeting SEAMARK's
      exacting quality criteria.

    SEAMARK Dividend & Income Fund

    - Designed for investors seeking a stable and recurring monthly income
    - Targets a monthly distribution equivalent to approximately 200 basis
      points over the yield on Government of Canada 10-year bonds, to be paid
      from realized capital gains, dividends, other income, or a return of

    "This is an exciting time for SEAMARK," said Stuart Raftus, President &
CEO. "We have a successful 10-year track record as a mutual fund manager and
an even longer track record as a manager of pension and other institutional
assets. With the launch of our own family of funds, we are able to offer our
expertise as an institutional manager to the Canadian mutual fund investor
across a broader variety of mandates."
    The funds are available for purchase by residents of each Canadian
province. Important information regarding the funds, including conditions of
purchase, investment strategy, distribution policy, management fees, and
expenses, are set out in the funds' simplified prospectus and annual
information form. To obtain these documents or for more information, please
visit SEAMARK's website at or call toll free 1-888-303-5055.
    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.

    SEAMARK Asset Management Ltd. (TSX:SM) provides investment management
services across Canada to institutional clients, mutual funds, private
clients, and the managed portfolio advisory programs (wrap programs) of many
of Canada's leading investment dealers.
    %SEDAR: 00016315E

For further information:

For further information: Brent Barrie, VP & Corporate Secretary, SEAMARK
Asset Management Ltd., (902) 423-9367

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