CM Investment Management Inc., the manager and trustee of the Select Ten Fund, Institutional Holdings Fund and Core Holdings Fund, announced today that it is terminating the funds, effective February 28.

The termination of each fund has been effected by selling its assets, discharging its liabilities and distributing the net assets to the unitholders of the fund pro rata in accordance with the number of units held by each unitholder on February 28, 2002.

The decision to terminate the funds resulted from the fact that the total assets of each of the funds had not grown as anticipated because of current adverse market conditions.

CMI says the fixed costs of each Fund were being shared by a relatively small number of unitholders.

All fees and costs associated with the termination of the Funds are being borne by CMI.