Mackenzie Financial Corp. on Wednesday announced that it has created an independent review committee to monitor its mutual funds’ holdings and transactions in certain related companies namely Power Corp. of Canada, Power Financial Corp. and Great-West Lifeco Inc.

The creation of the committee follows a July 2002 decision of the Canadian securities regulatory authorities that permits Mackenzie mutual funds to invest in securities of these related companies.

Mackenzie funds did not request permission and do not invest in securities of Investors Group Inc.

The Independent Review Committee members are: Martin Calpin; Gaye Trombley; and Martin Taylor. They will review all Mackenzie funds’ holdings of securities of related companies and their purchases and sales to ensure that they have been made free from any influence by a related company and are in the best interests of fund investors.

http://www.newswire.ca/releases/June2003/18/c4867.html