Connor, Clark & Lunn Capital Markets Inc., the manager of Connor, Clark & Lunn Global Financials Fund II today announced that the fund has issued warrants and Class F warrants.

Under the warrant offerings, the fund issued one-half of a warrant for each unit of the fund. Each whole warrant entitles the holder to purchase one unit at a price of $8.20 per unit on the second business day after the last day of each month, commencing on July 3, and ending on July 5, 2010. This means that the warrants may be exercised on any of 24 specific dates. The warrants started trading on June 5, under the ticker symbol GFT.WT on the Toronto Stock Exchange and will continue trading until July 5, 2010.

The fund also issued on a private placement basis one-half of a Class F warrant for each Class F unit. Each whole Class F warrant entitles the holder f to purchase one Class F unit on the second business day after the last day of each month, commencing on July 3, 2008 and ending on July 5, 2010. This means that the Class F warrants may be exercised on any of 24 specific dates. The exercise price for the Class F warrants will be an amount equal to the net asset value per Class F Unit determined as of the valuation date immediately preceding the relevant exercise date.

If the warrants are exercised, the warrant offerings are expected to increase the market capitalization of the fund, increase the liquidity of the units and lower fixed costs of the fund on a per unit basis.