AIC Ltd. and Transamerica Life Canada plan to streamline product offerings by consolidating several segregated funds, and to rename one of the funds, the companies said Friday.

The AIC seg funds’ contracts are issued by Transamerica Life Canada and are managed by AIC.

On June 19, 2009, AIC and Transamerica Life Canada will be discontinuing five AIC seg funds and reallocating their assets to three continuing AIC seg funds.

AIC Advantage II Segregated Fund will be continued by AIC Diversified Canada Segregated Fund.

AIC American Advantage Segregated Fund and AIC Value Segregated Fund will continued by AIC American Focused Segregated Fund.

AIC Global Advantage Segregated Fund and AIC World Equity Segregated Fund will be continued by AIC Global Diversified Segregated Fund.

Following the changes, AIC Global Diversified Segregated Fund will be renamed AIC Global Premium Dividend Income Segregated Fund. The fund is being renamed to reflect the name change that occurred in the underlying fund, which was renamed AIC Global Premium Dividend Income Fund on May 30, 2008.

Policyholders will be notified of these changes in early April.

IE