Press Release

Altamira Mutual Funds files Prospectus Amendment
announcing change to 11 Funds

Toronto (May 15, 2007) - Altamira Investment Services Inc., manager of Altamira Mutual Funds, announced today it will, subject to regulatory approval, change the valuation date of the funds listed below to any day on which the Toronto Stock Exchange is open for trading. This change aligns the valuation date to that of other funds within the Altamira Group of Mutual Funds and is effective as of close of business May 18, 2007:

Altamira Biotechnology Fund
Altamira Global 20 Fund
Altamira Global Financial Services Fund
Altamira Global Value Fund Altamira Health Sciences Fund
Altamira Income Fund
Altamira Precision Dow 30 Index Fund
Altamira Precision U.S. Midcap Index fund
Altamira Precision U.S. RSP Index Fund
Altamira Select American Fund
Altamira U.S. Larger Company Fund

An amendment to the Simplified Prospectus and Annual Information Form dated August 31, 2006 reflecting the change will be filed today. This change will not impact the holdings of unitholders.

About Altamira
Altamira Investment Services Inc. is a leading provider of financial and retirement planning services. We offer 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.
www.altamira.com.

Commissions, trailing commissions, management fees and expenses all may be associated with mutual funds investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.

Media Contact:
Crystal Jongeward
Public Relations Specialist
416.507.7252
cjongeward@altamira.com