The Fédération des caisses Desjardins du Québec today announced its intention to make a number of changes to the Desjardins Family of Funds.

Desjardins says the adjustments that will be proposed to unitholders take into account both the trend in demand and the current realities of the mutual funds market.

Desjardins will ask unitholders to approve seven proposed mergers.

Desjardins Select Canadian Equity Fund will be merged into Desjardins Canadian Equity Value Fund.

Desjardins CI Canadian Investment Fund will be merged into Desjardins Canadian Equity Value Fund.

Desjardins Fidelity Canadian Growth Fund will be merged into Desjardins Canadian Small Cap Equity Fund.

Desjardins Select Canadian Balanced Fund will be merged into Desjardins Canadian Balanced Fund.

Desjardins Select American Equity Fund will be merged into Desjardins American Equity Value Fund.

Desjardins Fidelity Global Fund will be merged into Desjardins Select Global Equity Fund, contingent upon the unitholders of Desjardins Select Global Equity Fund approving a change to the investment objectives of such fund, pursuant to which it will be re-named Desjardins Global All Cap Equity Fund.

Desjardins Global Science and Technology Fund will be merged into Desjardins Global Equity Value Fund.

In addition, Desjardins announced that it will be seeking the approval of unitholders in connection with changes to the investment objectives of Desjardins Fidelity Small Cap America Fund and Desjardins Select Global Equity Fund.

Desjardings will be seeking the approval of unitholders to change the investment objective of Desjardins Fidelity Small Cap America Fund, to read: “The investment objective of the fund is to achieve long term capital growth by investing in a diversified portfolio of securities of small capitalization foreign and Canadian companies.”

Desjardins says this change will permit the fund to make direct investments in issuer’s securities rather than being restricted to investing through another mutual fund. This change is intended to broaden the fund’s mandate and enhance diversification by permitting the purchase of securities of issuers located outside of the U.S. If the change of investment objective is implemented, Desjardins Fidelity Small Cap America Fund’s name will be changed to Desjardins Global Small Cap Equity Fund.

Desjardins will be seeking the approval of unitholders to change the investment objective of Desjardins Select Global Equity Fund to read: “The investment objective of the fund is to achieve long term capital growth by investing in a diversified portfolio of securities of foreign and Canadian companies.”

According to Desjardins, this change will permit the fund to make direct investments in issuer’s securities rather than being restricted to investing through other mutual funds. This change is intended to broaden the fund’s mandate and enhance global diversification. If the change of investment objective is implemented Desjardins Select Global Equity Fund’s name will be changed to Desjardins Global All Cap Equity Fund.

Special unitholder meetings will be held in November 2007 to consider the proposed mergers and changes. Subject to applicable unitholder and regulatory approvals being obtained, these mergers and changes will be completed in January 2008.