Wally Kusters joins C.I. Mutual Funds

TSE Symbol: CIX

TORONTO, Dec. 7 /CNW/ - C.I. Fund Management Inc. announced today that, effective immediately, Wally Kusters has joined the company with a multi-year contract as the lead manager of two new Canadian mutual funds. Pending regulatory approval, C.I. plans to launch a new Canadian equity fund and a new Canadian balanced fund.

Having served as Senior Portfolio Manager with Trimark Fund Management and most recently as Vice-President, Investments, at O'Donnell Investment Management, Mr. Kusters brings a wealth of experience to C.I. "We believe adding a money manager of Wally Kusters' calibre to our money management team will be extremely positive for both our company and our investors," says Peter Anderson, Executive Vice-President of C.I. Mutual Funds Inc. "Wally has an exceptional track record managing Canadian equity funds."

Until 1997, all of C.I.'s assets were managed externally, by investment counselling firms such as BEA Associates of New York, Hansberger Global Investors of Ft. Lauderdale, and J. Zechner Associates of Toronto. In June 1997, C.I. hired Gerry Coleman to oversee the Harbour Funds. Since that time the assets in the four Harbour Funds have grown to more than $1.4 billion. "Our strategy is to increase the assets we manage in-house. We believe Wally Kusters will make a significant contribution towards achieving this strategic goal," notes Anderson.

C.I. Fund Management Inc. is a leading Canadian-owned mutual fund company which, through wholly-owned subsidiary C.I. Mutual Funds Inc., manages assets including mutual funds, segregated funds and closed-end funds in excess of $8.3 billion for more than half a million Canadian investors. Shares are listed on the Toronto Stock Exchange under the symbol CIX.

0- 12/07/1998

For further information: Peter W. Anderson, Executive Vice-President, Tel. No.: (416) 364-1145

News release courtesy Canada NewsWire.

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