Trimark Announces Changes to Canadian Investment Team

TORONTO, Feb. 1 /CNW/ - Trimark Investment Management Inc., the principal subsidiary of Trimark Financial Corporation, today announced changes to its Canadian equity team.

Vito Maida, who has been leading the team for the past three years, has stepped down from that position and is taking a leave of absence. He will no longer be involved in the investment process for Canadian equities at Trimark.

Robert Krembil, chairman of Trimark Financial Corporation, will become more actively involved in the day-to-day activities of the Canadian equity group to ensure a smooth transition and to help bring shorter-term results to levels more consistent with Trimark's goals.

"Vito has made a tremendous contribution at Trimark by building the strong Canadian team that will now take over his responsibilities," said Robert Krembil.

Ian Hardacre, already part of the Canadian team, will take over responsibility for Trimark Canadian Fund and Trimark Select Canadian Growth Fund, working closely with Robert Krembil. Ian will be ably assisted by Carmen Veloso, who is already on the portfolio management team.

Keith Graham and Geoff MacDonald will continue to co-manage Trimark Canadian Small Companies Fund and Trimark Canadian Resources Fund, as well as Trimark RSP Equity Fund. In addition, they will assume interim management of the Canadian equity portion of Trimark's balanced funds: Trimark Income Growth Fund, Trimark Select Balanced Fund, assisted by analyst Cathy Prato. Fund managers Patrick Farmer and Rex Chong will continue to manage the fixed income portion.

The Canadian team will be also expanded with the addition of at least another senior portfolio manager.

"People have come to know us for our consistent, long-term returns," said Brad Badeau, President of Trimark Investment Management Inc. "These changes will enable us to deliver the superior long-term returns for which Trimark is known. To this end, we will be working hard to reduce the cash reserves and to broaden the mix of businesses owned in our various Canadian equity portfolios. This process is already well underway for Trimark RSP Equity Fund. Trimark is committed to providing a choice of managers on the Canadian side while maintaining a style that has generated strong long-term performance."

Trimark Financial Corporation's principal business is conducted through Trimark Investment Management Inc. (TIMI), a leading Canadian investment management company that is a sponsor, manager and distributor of mutual and segregated funds. Since its founding in 1981, TIMI has grown to manage assets of more than $24 billion in 17 mutual funds and 13 segregated funds, and operates through offices in Toronto, Montreal, Vancouver and Calgary.

In addition to its retail and pension mutual fund operations, Trimark Financial Corporation owns and operates Trimark Trust. Trimark Financial Corporation has approximately 800 permanent and part-time staff members. It became a publicly traded company in 1992 (TMF: TSE, ME).

0- 02/01/1999

For further information: Jade Hemeon, Trimark Investment Management Inc., (416) 228-8320 or 1-800-387-9841, extension 8320, jhemeon@trimark.com

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