Templeton Investments Corp. announced today that the Bissett Small Cap Fund will be closed to new investors on February 28.

“To follow our strategy of finding quality investment opportunities in the market while managing investment risk, we believe it is in the best interest of current unitholders to close the fund to new investors,” said Chris Fernyc, the Calgary-based portfolio manager of the Bissett Small Cap Fund. “Capping the Bissett Small Cap Fund now will ensure that the fund continues to participate in the Canadian small cap market while still remaining true to its growth-at-a-reasonable-price (GARP) investment style.”

Bissett Small Cap Fund invests primarily in small cap Canadian equities that have proven management and long-term growth plans. As of January 31, 2005, the fund had $620 million in assets under management. Existing unitholders will be able to continue to add to their investments, and the fund will also remain part of the company’s Quotential and Tapestry Pooled Portfolios programs. This “soft cap” allows the fund to continue to actively participate in the market, but at a measured pace of asset growth and no impact on management style.

The fund may reopen to new investors at a later date depending on market conditions.

“The Canadian small cap market remains an important asset class, and we will continue to search for good investment opportunities for the fund,” concluded Fernyc.