Guardian Group of Funds Ltd. has appointed Montag & Caldwell, Inc. to manage GGOF American Growth Fund. effective Jan. 1, 2004.

Montag & Caldwell is a large-cap growth style investor using a highly disciplined bottom-up investment process that combines growth and value.

The firm was founded in 1945 and is a wholly owned subsidiary of ABN AMRO Asset Management Holdings, Inc. As of September 30, 2003, Montag & Caldwell managed approximately US$28.2 billion in assets.

Montag & Caldwell replaces Harris Bretall Sullivan & Smith LLC, the fund’s advisor at the time that GGOF assumed management of the fund in June 2002.