Desjardins Investment Management Inc. has been appointed portfolio advisor to all of the Desjardins Funds. Desjardins Investment Management Inc. is the manager of the Desjardins Funds and was previously the portfolio advisor of the Desjardins Select Funds and Desjardins Ethical Funds.

Desjardins Trust also announced the appointment of the following portfolio sub-advisors to the Desjardins Funds.

Fiera Capital Management Inc. of Montreal has been appointed portfolio sub-advisor to Desjardins Money Market Fund, Desjardins Mortgage Fund, Desjardins Bond Fund, Desjardins Balanced Fund, Desjardins Québec Fund (A-Class and T-Class Units), Desjardins Worldwide Balanced Fund, Desjardins Diversified Secure Fund, Desjardins Diversified Moderate Fund, Desjardins Diversified Audacious Fund, Desjardins Diversified Ambitious Fund, Desjardins Dividend Fund (A-Class and T-Class Units), Desjardins Equity Fund, Desjardins Environment Fund, Desjardins Growth Fund, Desjardins High Potential Sectors Fund, Desjardins American Market Fund, Desjardins International RSP Fund, Desjardins Global Science and Technology Fund.

Fiera Capital is a new portfolio management firm that already has assets under management in excess of $5.2 billion and over 60 clients external to the Desjardins group. Fiera Capital’s expertise is in the management of fixed income securities, Canadian equities and asset allocation.

Alliance Capital Management L.P. of New York has been appointed portfolio sub-advisor in respect of the technology portion of the investment portfolio of Desjardins Global Science and Technology Fund. Alliance Capital is one of the two companies forming the renowned New York based portfolio management group of AllianceBernstein. It specializes in the management of growth investment portfolios. The AllianceBernstein group is one of the largest mutual fund managers in the world with over 23,500 clients spread across 47 countries.

Desjardins Trust also announced that the asset mix of its Desjardins Ethical Income Fund, Desjardins Ethical Balanced Fund and Desjardins Ethical North American Fund are changing. The changes to Desjardins Ethical Income Fund and Desjardins Ethical North American Fund would result from the proposed merger of certain of their underlying Ethical Funds. These mergers are contingent upon the approval of the unitholders of the applicable Ethical Funds. If approved, the changes to funds would take effect December 15. The changes to Desjardins Ethical Balanced Fund are not related to the proposed merger of Ethical Funds and will take effect December 15, 2003.

Desjardins Trust has also made changes to certain of the portfolio sub- advisors of some of the Maestral Funds.

Fiera Capital has been appointed portfolio sub-advisor for each of the following funds: Maestral Money Market Fund; Maestral Canadian Bond Fund; Maestral Asset Allocation Fund; Maestral Small Cap Canadian Equity Fund; and Maestral Global Equity RSP Fund, in respect of derivatives.