At meetings held on June 15, unitholders approved changes to a number of Investors Group funds.

Investors Mortgage Fund’s mandate will be broadened by reducing its mortgage content and increasing investments in fixed-term and liquid debt securities, allowing the fund to generate investment income for unitholders. Coincident with this change, the fee structure of the fund is being revised, including a reduction in the management fee, which is expected to result in a lowering of the fund’s management expense ratio over time. Also in conjunction with this change, the fund’s name is being changed to Investors Mortgage and Short Term Income Fund. These changes are effective as soon as the fund’s prospectus is revised, which is expected to occur on or about June 30, 2006.

IG AGF International Bond Fund and IG Templeton World Bond Fund will be merged into Investors Global Bond Fund. These funds were specifically structured to meet foreign content rules which are no longer in effect. These mergers will effectively combine three funds with similar or identical investment objectives and strategies, which is expected to lead to improved diversification and performance. The mergers are to occur after the close of business on June 23.