July 26, 2005

Assante Wealth Management to set fixed administration fees

TORONTO (July 26, 2005) - Assante Wealth Management today announced proposals to set fixed administration fees for its Artisan Portfolios and Assante Pools. The proposals have been tabled for a special investor meeting to be held in Toronto on August 30, 2005, at which investors can vote in person or by proxy. The proposals do not include the Assante RSP Pools that are being closed to new investors.

"In our industry, MERs typically vary from year to year as operating costs fluctuate, and are not known with certainty until year-end when all expenses are known, calculated and audited," explained Steven Donald, President and Chief Operating Officer of Assante Wealth Management.

He added, "The operating expenses of the Artisan Portfolios and Assante Pools were reduced in January, 2005. We are proposing to set them at an even lower level and then fix them so they cannot be raised without the permission of the investors-with the exception of taxes, borrowing costs and new government fees."

Subject to investor approval, effective September 1, 2005, the operating expenses of the Assante Pools and the Artisan Portfolios will be set at 0.17% to 0.22%, depending on the pool or portfolio.

The proposals present an important commitment to clients from Assante; with the competition setting their operating expenses at anywhere from 0.25% to 0.75%, Assante is offering investors sizeable savings.

"We are creating transparent pricing and a level of consistency between the management fee and the MER that is just being introduced into the marketplace. Investors do not always realize that operating expenses vary significantly among investment companies and funds, leading to wide variations in the costs borne by investors," stated Steven Donald. "Our approach ensures that our advisors and their clients will know exactly what they are paying to invest, now and in the future."