Industrial Alliance Acquries Cooperators Mutual Funds

On November 18, 2003, Industrial Alliance Insurance and Financial Services Inc. acquired all the common shares of Co-operators Mutual Funds Ltd. (now known as Industrial Alliance Mutual Funds Inc.) from the Co-operators Group Ltd. Industrial Alliance Mutual Funds Inc. will continue as the manager and trustee of eight mutual funds now known as the Industrial Alliance Mutual Funds. The eight funds have an estimated market value of $90 million.

Industrial Alliance was represented by in-house counsel Yasmin Visram, National Life; and by Cassels Brock & Blackwell LLP, with a team that included Gordon Goodman, Christine Vogelesang and Peter Dunne. The Co-operators Group was represented by in-house counsel Andrew Carlyle; and by Fasken Martineau DuMoulin LLP, with a team that included Robert McDowell (corporate), Tracy Hooey, Garth Foster and Bill Chinkiwsky (securities) and Bill Bies and Mitchell Thaw (tax).