September 23, 2005

Portfolio advisor Peter Hodson moves to CI, maintains role in the Institutional Managed Canadian Equity Pool

TORONTO (September 23, 2005) - United Financial Corporation (United Financial) announced today that well-known small-cap manager Peter Hodson has left Waterfall Investments Inc. (Waterfall) and moved to CI Investments Inc. (CI). Hodson will continue as one of the three managers of the Institutional Managed Canadian Equity Pool and, effective September 30, 2005, CI will replace Waterfall as portfolio advisor to that pool.

Joe Canavan, Chairman and CEO of United Financial, is pleased that Hodson will continue as a member of the Institutional Managed Portfolios (IM Portfolios) team. He stated, "The IM Portfolios are exceptional investment solutions that bring together top performers selected for their proven abilities and track records to actively manage our clients’ investments. Peter Hodson is a leading small-cap manager and we are pleased that his personal decision to move from Waterfall to CI in no way affects our clients’ investments."

Hodson has a solid reputation in the industry, built on a strong track record. For example, CI’s Signature Canadian Small Cap Class, for which he is lead manager, is first quartile over the one and three-year periods ending August 31, 2005.

About United Financial Corporation
United Financial Corporation (formerly Assante Asset Management Ltd.), a subsidiary of Assante Corporation, provides a broad range of portfolio management solutions exclusively through a national network of financial advisors affiliated with Assante Wealth Management and IQON Financial. United Financial has $9 billion of assets under management. Assante Corporation is a wholly owned subsidiary of CI Financial.

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For further information:
Joe Canavan
Chairman and Chief Executive Officer
United Financial Corporation
Tel: (416) 681-6334

Media Contact:
Kavitha Karnaker
Sr. Manager, Marketing
Assante Wealth Management
Tel: (416) 681-7046