AGF Funds Inc. was honoured with two top prizes at last night’s Lipper Fund Awards gala in Toronto.

Lipper, a mutual fund-rating company, awarded top honours to AGF Precious Metals Fund for achieving the best 5-year returns in the Precious Metals Equity Funds category and AGF China Focus Class for achieving the best 10-year returns in the Miscellaneous Funds category. (Both of these funds were also recognized at the 2007 Lipper Fund Awards.)

“We are delighted and proud to have our funds recognized by Lipper as repeat winners,” said AGF Funds Inc. President Randy G. Ambrosie. “These awards highlight AGF’s continued commitment to providing excellence in money management, delivering consistent long term performance and offering exceptional products and services that meet the needs of our clients.”

AGF recently announced the appointment of Robert Lyon as Senior Vice-President and Portfolio Manager on AGF Precious Metals Fund, effective April 21, 2008 pending regulatory approval. Mr. Lyon will assume lead management responsibility for this Fund and two other resource funds (AGF Canadian Resources Fund and AGF Global Resources Class) working with AGF veteran fund manager W. Robert Farquharson. Associate Portfolio Manager Ani Markova also joins the AGF Precious Metals Fund team effective April 7, 2008.

AGF China Focus Class is sub-advised by Hong Kong-based Nomura Asset Management Co. Ltd. by a team led by Kingston Lee, chief portfolio manager.

The Lipper Fund Awards program highlights funds that have excelled in delivering consistently strong risk-adjusted performance, relative to peers.

With these latest wins, AGF continues to garner recognition for its award winning Investment Management team. Late last year, AGF was honoured at the Canadian Investment Awards where three of its funds were repeat winners for outstanding performance:

• AGF European Equity Class – a five-time winner since 2001.
• AGF Precious Metals Fund – a three-time winner since 2001.
• AGF Emerging Markets Fund – a three-time winner since 2005.

“At AGF, we appreciate this recognition by industry experts,” added Ambrosie. “We will continue to work diligently to build a world class team of investment management professionals who are committed to delivering value for investors.”

About AGF Management Limited

AGF Management Limited is one of Canada’s premier investment management companies with offices across Canada and subsidiaries around the world. AGF’s products and services include a diversified family of more than 50 mutual funds, the evolutionary AGF Elements portfolios, the Harmony asset management program, AGF Asset Management Group services for institutional and high-net-worth clients, as well as AGF Trust GICs, loans and mortgages. With approximately $50 billion in total assets under management, AGF serves more than one million investors. AGF trades on the Toronto Stock Exchange under the symbol AGF.B.

For more information, contact AGF Corporate Communications:

Karen Danylak, Director
416-865-4308
Karen.Danylak@agf.com

Karen Archer, Media Relations Specialist
416-865-4295
Karen.Archer@agf.com