(May 4 – 15:20 ET) – The Toronto Stock Exchange has accepted C.I. Fund Management Inc.’s notice of intention to proceed with a normal course issuer bid.

C.I. intends to purchase for cancellation up to 5,341,475 of its common shares. These shares represent 10% of the public float. As of May 4, 2000, there are 91,364,964 issued and outstanding common shares.

The purchases may commence on May 8, 2000 and will terminate on May 7, 2001, or on such earlier date as C.I. may complete its purchases pursuant to a notice of intention filed today with the Toronto Stock Exchange or provide notice of termination.

In the last 12 months, C.I. purchased 808,200 of its common shares at an average price of $9.19 per common share.
-IE Staff