Alliance Capital Management Canada Inc. will become the portfolio advisor to Scotia Securities Inc.’s Scotia European Growth Fund, replacing Bank of Ireland Asset Management (U.S.) Ltd. The change is effective on June 27, 2005.

Alliance Capital Management Canada, Inc. is a wholly-owned subsidiary of Alliance Capital Management LP, a global investment firm managing more than $600 billion in assets.

http://www.newswire.ca/images/newswire/en/CNWLogo.gif)(http://www.newswire.ca/images/newswire/fr/CNWLogo.gif