Press Release

Altamira appoints Howson Tattersall as portfolio manager of
two mutual funds

Toronto (August 24, 2006) Altamira Investment Services today announced the appointment of Howson Tattersall Investment Counsel as portfolio manager of two Altamira Funds effective November 1, 2006. The Altamira Canadian Value Fund and Altamira Global Value Fund will be managed by Howson Tattersall's equity investment management team. Both funds are key components of Altamira's Managed Portfolio Service as well as the mutual fund family.

Howson Tattersall uses a focused value management style in selecting inexpensive securities that are market-neglected and structures portfolios that provide consistent long-term performance and excellent downside protection.

"By adding the expertise and experience of the Howson Tattersall team, we have solidified our commitment to providing Altamira clients with the best money managers in the business. Howson Tattersall have been consistent investment management leaders and will add great diversification to both our Managed Portfolio Service and individual product line-up", said James Whitman, Senior Vice President of Sales and Service at Altamira.

About Howson Tattersall
Howson Tattersall Investment Counsel manages over $11 billion of assets for a variety of institutional clients, including third party mutual funds, pension plans and foundations, as well as the highly respected Saxon Mutual Funds.

Their focus on value investing has produced superior long-term results with exceptional capital preservation for their clients. Howson Tattersall Investment Counsel is headquartered in Toronto and has an office in Montreal. They are a subsidiary of Saxon Financial Inc. (www.saxonfinancial.ca), a company listed on the TSX under the symbol "SFI". www.howsontattersall.ca

About Altamira
Altamira Investment Services is a leading provider of financial and retirement planning services offering a wide range of investment solutions including mutual funds, savings accounts, principal-protected notes and managed portfolio 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.

Media contact:
Crystal Jongeward
Public Relations Specialist
(416) 507-7252
cjongeward@altamira.com