December 28, 2005

QVGD to manage Institutional Managed Canadian Equity Pool

TORONTO, Dec. 28 /CNW/ - United Financial Corporation (United Financial) announced today that effective immediately, QVGD Investors Inc. (QVGD) will be portfolio manager of the small cap portion of the Institutional Managed Canadian Equity Pool. The pool's other portfolio managers are Daniel Bubis of Tetrem Capital Partners Ltd. and David Picton of Picton Mahoney Asset Management.

United Financial believes strongly in selecting portfolio managers who have a proven track record of delivering solid returns compared to their benchmark indices and peer groups on a risk-adjusted basis. We use care and discipline to monitor each manager's performance to ensure they meet the customized investment objectives of the pool.

QVGD's outstanding performance was awarded the 2005 Mutual Fund Analysts' Choice Canadian Small Cap Equity Fund award. Leigh Pullen, President and Chief Investment Officer, and Joe Jugovic, Vice-President of Investments, strongly attribute the firm's success to their philosophy of selecting investments of quality, value, and growth to build diversified, low-risk portfolios.

Based on QVGD's successful track record, disciplined investment management philosophy and the team's extensive experience in Canadian small cap management, we are confident this management team will create added value and capital growth for the Institutional Managed Canadian Equity Pool and client portfolios.

As always, United Financial will monitor the Institutional Managed Canadian Equity Pool and its portfolio managers to ensure that each manager continues to meet the high expectations for the pool and will continue to play a strong complementary role within clients' portfolios.

About United Financial Corporation

At United Financial, we prove the benefits of managed money and bring together the best portfolio managers, from around the world, to actively manage our cutting-edge investment solutions. With over $9 billion in assets under management, we serve the changing financial needs of families across Canada.

United Financial is the investment management subsidiary of Assante Corporation, a national wealth management company with over $24 billion in assets under administration. United Financial develops unique and market- leading investment solutions exclusively for advisors at Assante Capital Management Ltd., Assante Financial Management Ltd. and IQON Financial Inc., and supports the partners at Stonegate Private Counsel LP.

For further information:

Garnet Anderson
Chief Investment Strategist
United Financial Corporation
Tel: (416) 681-1736