Frank Russell Canada Ltd. announced today that it intends to merge the LifePoints All Equity RSP Portfolio into the LifePoints All Equity Portfolio on October 1.

As a result of the elimination of the foreign property limit, the investment objectives of the two portfolios has become effectively the same.

Pursuant to the merger, investors in the LifePoints All Equity RSP Portfolio will exchange their units for units of the LifePoints All Equity Portfolio on a dollar-for-dollar basis. On or prior to the effective date of the merger, Russell will suspend purchases of units of the LifePoints All Equity RSP Portfolio, but investors will have the right to redeem units of that Portfolio up to the close of business on the effective date of the merger.

The merger is subject to any necessary unitholder and regulatory approval.

Due to the similar nature of the two portfolios, Russell may seek or rely on permission from the Canadian securities regulators to effect the merger without seeking unitholder approvals.