No distribution from AIC Advantage and other core AIC funds in 2001



AIC Groups of Funds announced today that based on preliminary analysis there will be no taxable distributions for the 2001 taxation year on its core equity trust funds, including AIC Advantage Fund and AIC Advantage Fund II, AIC Value Fund and AIC Diversified Canada Fund.

For AIC Advantage Fund, this marks the 12th consecutive year that the Fund has not had a taxable distribution and unit holders have not received a T3 slip. “You have to minimize taxes in order to create wealth and prosperity,” said Michael Lee-Chin, chairman and CIO, AIC Ltd. “We believe investors should always consider the impact of taxes with their investment decisions.
Our buy, hold and prosper investment philosophy concentrates on preserving investors’ wealth by buying those excellent businesses that compound shareholder wealth at better than average rates and by holding those investments for the long run.”

AIC Value Fund, another core equity fund, also extended its record of no distributions by another year. The Fund has not had a distribution since 1991. Among its core equity funds, AIC estimates that only AIC American Focused Fund will realize a minimal distribution for its unit holders. As anticipated AIC RSP Funds, which are intended for non-taxable registered plans, will have income distributions.

Distribution information is expected to be finalized by December 28, 2001 for AIC trust funds.