Acuity Funds Ltd. announced the merger of Acuity All Cap & Income Trust, Acuity Diversified Total Return Trust, and Acuity Multi-Cap Total Return Trust into Acuity Growth & Income Trust (the continuing fund) effective as of the close of business on Dec. 28, 2007.

The merger was approved by unitholders of All Cap, Diversified and Growth at special meetings held on Dec. 13, 2007 and by Multi-Cap unitholders at a special meeting on Dec. 24, 2007.

The continuing fund will retain the name Acuity Growth & Income Trust and will continue to trade under the symbol AIG.UN.

The exchange ratio for the units was based on the net asset value per unit of each of All Cap, Diversified and Multi-Cap relative to the continuing fund determined as at the close of trading on Dec. 28, 2007.

The net asset values per unit and exchange ratios are as follows: Acuity All Cap & Income Trust, $10.313444, 0.901164; Acuity Diversified Total Return Trust, $7.895405, 0.689882; and Acuity Multi-Cap Total Return Trust, $7.862263, 0.686986.