Press Release

Altamira Investment Services Proposes Fund Mergers
to Simplify Investor Portfolio Construction

TORONTO (June 29, 2007) Altamira Investment Services today announced six proposed fund mergers.  These mergers will provide greater transparency among Altamira’s mandates and continue to offer investors a broad range of investment choice.

“The proposed mergers will result in potential savings as a result of economies of scale associated with the larger continuing funds.   Additionally, the streamlined family of funds will make it easier for investors to work with the Altamira advisor to build and manage portfolios that are best matched to their personal needs and goals,” says Altamira’s Chief Operating Officer, James Whitman.

The proposed fund mergers are subject to investor and regulatory approval.  Investors will be asked to vote on these changes by Proxy at a Special Meeting of Unitholders, which takes place on or about September 4, 2007 in Toronto.  Investors will receive a Proxy package in early August that includes an Information Circular containing details of the proposed fund mergers and a Proxy to vote on them.

Effective 4:00 pm EST on July 30, 2007, the terminating funds will be closed to new purchases, except for purchases under existing systematic plans.  Existing systematic plans will carry over to the continuing funds following the mergers.

If investor and regulatory approval is obtained, the mergers will be implemented on or about the close of business on September 7, 2007.

In addition, provided that the Altamira Precision European RSP Index Fund merger goes ahead, Altamira Investment Services will decrease the management fee and expenses charged to Altamira Precision European Index Fund.  Currently, Altamira Precision European Index Fund pays a maximum management fee of 0.50% plus operating expenses of up to 0.70% (plus taxes).  In order to accommodate the merger of Altamira Precision European RSP Index Fund into Altamira Precision European Index Fund, Altamira Investment Services will reduce the management fee for Altamira Precision European Index Fund to 0.45% and cap its operating expenses at 0.50% (excluding taxes).

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.  www.altamira.com

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