he Tradex Equity Fund Ltd. and Tradex Canadian Growth Fund announced today that their boards of directors have approved a proposal to combine the funds.

Both funds are managed by Tradex Management Inc. and share common investment objectives and complementary investment portfolios. The transaction will be structured on a basis whereby the portfolio assets of Tradex Canadian Growth Fund will be acquired by Tradex Equity Fund for shares of Tradex Equity Fund. Tradex Canadian Growth Fund then will terminate and distribute to its unitholders the mutual fund shares in Tradex Equity Fund it receives.

The proposed transaction will require the approval of a majority of the holders of units of Tradex Canadian Growth Fund represented at a meeting called to consider the proposal and will also require the approval of applicable securities regulatory authorities.

A meeting of unitholders is expected to be held early in 2002. If approved the exchange transaction is expected to be completed on or before March 31, 2002.