Altamira Press Release

Altamira announces appointment of Sub-Advisor to Global Discovery Fund

TORONTO (February 14, 2005) Altamira Investment Services Inc. (Altamira) today announced the appointment of Ballie Gifford Overseas Limited as Sub-Advisor to the Altamira Global Discovery Fund, effective April 1st, 2005.

Natcan Investment Management Inc., the portfolio advisor to the fund, has hired Ballie Gifford as sub-advisor to the fund. Ballie Gifford is an Edinburgh, Scotland based global investment manager with over $75 billion (CDN) under management and was established in 1908. Gerald Smith, Head of Ballie Gifford’s Emerging Markets Investment Team, will provide investment advice for the fund. Mr. Smith is a Partner of the firm and has over 18 years investment experience.

Altamira is a leading investment services company, offering a wide range of mutual funds, savings products, custom portfolios, and financial planning services 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