Saxon Funds Management Ltd. announced today that a special meeting of unitholders of the Saxon Mutual Funds will be held on November 16 to consider the appointment of PricewaterhouseCoopers LLP as auditors of the Saxon funds to replace their current auditors Hilborn Ellis Grant LLP.

The change is being brought forward following the acquisition of Saxon by CMA Holdings, a subsidiary of the Canadian Medical Association, in August 2003. It is intended to bring the Saxon Mutual Funds onto the same operating platform as the MD Mutual Funds, which are managed by CMA Holdings’ subsidiary MD Funds Management Inc.

Assuming all necessary approvals are received, it is anticipated that the change in auditor will be implemented December 1.