AGF Funds Inc. today announced that the following changes, aimed at simplifying and improving AGF’s fund line up, have been approved by securityholders:

• Change of the investment objectives of AGF World Companies Fund to align the fund with its corporate class counterpart, AGF Global Equity Class
• Merger of AGF Germany Class into AGF European Equity Class
• Merger of AGF Aggressive^TM Japan Class into AGF Japan Class
• Merger of AGF RSP Global Bond Fund into AGF Global Government Bond Fund
• Reorganization of Harmony Americas Small Cap Equity Pool, which includes the sale of its U.S. assets to Harmony U.S. Equity Pool and the subsequent merger of  Harmony Americas Small Cap Equity Pool into Harmony Canadian Equity Pool

Regulatory approval, as applicable, has also been granted in respect of the changes.

The investment objectives change will be effective on or about April 18, 2008 with the renewal of the AGF Group of Funds simplified prospectus. The mergers and reorganization will be effective on or about May 23, 2008.

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:

Lucy Becker, Vice-President
416-865-4284
Lucy.Becker@agf.com

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

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