TORONTO, Dec. 11 /CNW/ - USC Education Savings Plans Inc. ("USCI"), the
administrator of the USC Horizon Education Savings Plan (the "USC Horizon
Plan"), today announced a proposal to transfer the assets of the USC Horizon
Plan into the USC Family Single Student Education Savings Plan.
USCI is proposing to transfer the plans sold in the USC Horizon Plan into
a larger plan with a similar mandate. The proposed transfer will result in the
majority of assets in and subscribers to the USC Horizon Plan (the
"Subscribers") becoming subscribers to the USC Family Single Student Education
The transfer is subject to the approval of: (i) the Board of Directors of
The International Scholarship Foundation; (ii) the Subscribers; and, (iii)
court approval. If approved, the transfer is expected to be completed on or
before April 30, 2008.
USCI, with over 400 licensed sales representatives has been distributing
RESPs for more than 40 years and had over $2.2 billion under administration
for over 478,000 agreements as at its last fiscal year end.
For further information:
For further information: Paul Renaud, Vice-President, Corporate Affairs,
USC Education Savings Plans Inc., (905) 281-4973