Altamira Announces Estimates for Mutual Fund Distributions

Toronto (December 10, 2004) CNW – Altamira Investment Services Inc. (Altamira) today announces the following estimated distributions for its mutual funds based on information currently available. The record date for these distributions is December 14, 2004 and the payment date is December 15, 2004. All figures are expressed in Canadian dollars. Distributions are not guaranteed and may vary significantly from estimates without notice to unitholders.

Distribution Estimates	INCOME	CAP GAIN	TOTAL	%
	/ UNIT	/ UNIT	/ UNIT	DISTR
Altafund Investment Corp.	n.a	n.a	n.a	n.a
Altamira Asia Pacific Fund	0.000000	0.000000	0.000000	0.000000
Altamira Balanced Fund	0.182879	0.000000	0.182879	1.0227%
Altamira Biotechnology Fund	0.000000	0.000000	0.000000	0.000000
Altamira Bond Fund	0.143455	0.000000	0.143455	0.8290%
Altamira Canadian Value Fund	0.000000	0.703983	0.703983	4.5921%
Altamira Capital Growth Fund	n.a	n.a	n.a	n.a
Altamira Dividend Fund	n.a	n.a	n.a	n.a
Altamira e-business	0.000000	0.000000	0.000000	0.000000
Altamira Energy Fund	0.000000	0.020378	0.020378	0.1864%
Altamira Equity Fund	0.000000	0.000000	0.000000	0.000000
Altamira European Equity Fund	0.000000	0.000000	0.000000	0.000000
Altamira Global 20 Fund	0.000000	0.000000	0.000000	0.000000
Altamira Global Bond Fund	0.018288	0.000000	0.018288	0.1559%
Altamira Global Discovery Fund	0.000000	0.000000	0.000000	0.000000
Altamira Global Diversified Fund	0.240770	0.000000	0.240770	1.3902%
Altamira Global Financial Services	0.000000	0.000000	0.000000	0.000000
Altamira Global Small Co. Fund	0.000000	0.000000	0.000000	0.000000
Altamira Global Value	0.000000	0.778522	0.778522	6.5295%
Altamira Growth & Income Fund	0.012236	0.000000	0.012236	0.1421%
Altamira Health Sciences	0.000000	0.000000	0.000000	0.000000
Altamira High Yield Bond	0.037382	0.000000	0.037382	0.8596%
Altamira Income Fund *	0.024600	0.044488	0.069088	0.8479%
Altamira Japanese Opp Fund	0.000000	0.000000	0.000000	0.000000
Altamira Monthly Income Fund	n.a	n.a	n.a	4.75%**
Altamira Prec. and Strategic Metal	0.000000	0.000000	0.000000	0.000000
Altamira Resource Fund	0.000000	0.000000	0.000000	0.000000
Altamira RSP e-business	0.000000	0.000000	0.000000	0.000000
Altamira RSP Health Sciences	0.000000	0.000000	0.000000	0.000000
Altamira RSP Science & Technology	0.000000	0.000000	0.000000	0.000000
Altamira Short Term Canadian Income *	0.021900	0.000000	0.021900	0.2154%
Altamira Short Term Global Income	0.000000	0.000000	0.000000	0.000000
Altamira Short Term Gov't Bond Fund	0.039973	0.000000	0.039973	0.7160%
Altamira Science & Technology Fund	0.000000	0.000000	0.000000	0.000000
Altamira Select American Fund	0.000000	0.000000	0.000000	0.000000
Altamira Special Growth Fund	0.000000	0.326454	0.326454	1.1533%
Altamira U.S. Larger Company Fund	0.000000	0.000000	0.000000	0.000000
Altamira Precision Canadian Index Fund	0.134496	0.000000	0.134496	0.9618%
Altamira Precision Dow 30 Index	0.110982	0.000000	0.110982	1.4727%
Altamira Precision European Index	0.162124	0.000000	0.162124	2.0210%
Altamira Precision European RSP Index	0.000000	0.000000	0.000000	0.000000
Altamira Precision Intl RSP Index Fund	0.000000	0.000000	0.000000	0.000000
Altamira Precision U.S. MidCap Index Fund	0.060562	0.000000	0.060562	0.5343%
Altamira Precision U.S. RSP Index Fund	0.000000	0.000000	0.000000	0.000000
* These funds distribute monthly and estimates are based on expected regular distributions.
** This fund distributes monthly. The amount is an annualized estimate.

Investors seeking additional information about these estimates should contact an Altamira Investment Specialist at 1-888-ALTAMIRA.

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 changes frequently and past performance may not be repeated.

Altamira is a leading investment services company, offering a wide range of mutual funds, savings products, custom portfolios, and financial planning to both individual investors and institutional clients. Personal attention, expert advice and investment performance are the foundation of Altamira's award-winning client service. The company is headquartered in Toronto with offices across the country, and is a subsidiary of the National Bank of Canada. www.altamira.com

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