Unitholders Approve Unique Investment Objective for Lion Knowledge Industries Fund

VANCOUVER, Dec. 18 /CNW/ - At a special meeting today, unitholders approved changes to the investment objective for the Lion Knowledge Industries Fund. The fund's investment objective has been changed to expand the variety of the fund's knowledge company investments by size and geography through the use of direct stock holdings and well established derivative investments. The fund may still continue to invest in small and mid cap Canadian companies, but it will no longer be restricted to these being its primary focus.

This fund is a rare hybrid of U.S. and Canadian stocks combined with the NASDAQ 100 index. It is the only Canadian fund that capitalizes on both of these high growth areas.

Sandy Hershaw, Vice President at Lion Funds explained at the meeting: "We believe by combining a core NASDAQ 100 index investment with an actively managed Canadian and U.S. portfolio of knowledge industries stocks, we will achieve superior long term returns. Knowledge industries are a high growth segment of the economy and should be an essential part of Canadian investment portfolios. Our objective is to provide a top tier knowledge industries fund which qualifies as Canadian content and is 100% RSP eligible."

The Lion Knowledge Industries Fund maintains a North American perspective. The year-end fund portfolio is targeted to have an equal weighting of leading American and Canadian knowledge companies. The U.S. component is provided by direct stock holdings of up to 20% of the portfolio and a 20 to 30% notional weighting in NASDAQ 100 index using futures contracts. The Canadian component will be a diversified group of knowledge companies.

The NASDAQ 100 is the premier global knowledge industries index with an outstanding return history. The Lion Knowledge Industries Fund is designed to complement other global knowledge industries funds. The expanding Lion Funds group has a core theme of investing in key knowledge industries.

0- 12/18/1998

For further information: Sandy Hershaw, CFA, Vice President, Lion Funds, (416) 864-3684, or 1-888-456-2055; Media Relations, Kate James, (604) 988-6818

News release courtesy Canada NewsWire.

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