ClaringtonFunds Inc. has named three investment managers to replace SEAMARK Asset Management Ltd. on the funds it manages for Clarington. Effective March 31, 2006, Howson Tattersall Investment Counsel Ltd., Industrial Alliance Investment Management Inc., and OppenheimerFunds, Inc. will assume portfolio management responsibilities for the funds.

“These changes reflect our commitment to strengthening fund performance
and enhancing our world-class team of portfolio managers,” said Terence Stone,
vice-chairman of ClaringtonFunds. “Each of these firms brings outstanding
qualifications and an impressive long-term investment track record.”

The new portfolio advisors/sub-advisors are as follows:

Clarington Canadian Balanced Fund: Howson Tattersall Investment Counsel

Clarington Canadian Bond Fund: Industrial Alliance Investment Management

Clarington Canadian Dividend Fund: Industrial Alliance Investment Management

Clarington Canadian Equity Fund; Clarington Canadian Equity Class: Industrial Alliance Investment Management

Clarington Canadian Income Fund; Clarington Canadian Income Fund II: Industrial Alliance Investment Management

Clarington Global Income Fund: OppenheimerFunds

Clarington Money Market Fund: Industrial Alliance Investment Management

Clarington Short-Term Income Class: Industrial Alliance Investment Management

The investment objectives of the funds will not change.