Press Release

Altamira clients to benefit from the elimination of the foreign content limit for registered plans.

TORONTO (July 4, 2005) - Investors are now free to invest globally, without foreign content restrictions and at a reduced cost. Altamira Investment Services Inc. ("Altamira"), the Trustee and Manager of the Altamira RSP Science & Technology Fund, Altamira RSP e-Business Fund and Altamira RSP Health Sciences Fund (the "Funds"), today announced that due to the recent elimination of the foreign content limit for registered plans the Funds will be terminated on August 2, 2005.

Altamira has concluded that it is in the best interest of unitholders that the Funds be terminated. Given that the Funds were originally developed to enable Canadian investors to increase foreign exposure in registered plans beyond the foreign content limit, the Funds are now redundant.

The Funds have initiated the termination of forward contracts used by the Funds and will instead directly hold units of the relevant underlying funds. Effective immediately, the costs associated with the forward contacts will be eliminated and the management expense ratios for the Funds will be reduced to the same level as the relevant underlying fund.

As of July 5, 2005, purchases and switches into the Funds will be suspended. Current investors in the Funds will receive units of equal value of the relevant underlying funds on the termination date. Unitholders will not be required to take any action nor pay any fees as a consequence of the termination of the Funds. All costs associated with the termination will be borne by Altamira.

Automatic investment plans (AIP) purchases will continue into these Funds until the termination date, after which such purchases will automatically be transferred to the corresponding underlying fund, subject to any prior change in AIP instructions.

Further, all automatic foreign content account rebalancing will cease immediately, as clients no longer have a limit on their foreign holdings. The elimination of the account rebalancing service will provide investors with more freedom by allowing them to invest directly in foreign funds.

Altamira is a leading investment services company, offering a wide range of mutual funds, savings products, managed portfolios and financial planning services. Award-winning client service, product innovation and expert advice define Altamira’s distinctive approach to investment management. The company is headquartered in Toronto with offices across the country, and is a subsidiary of the National Bank of Canada.

altamira.com

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Media Contact:
Glenn Cooper
Director of Communications
Altamira Investment Services Inc.
(416) 507-7044
gcooper@altamira.com