AGF Management Acquires 80 Per Cent of Highstreet Partners

On December 1, 2006, AGF Management Limited completed its acquisition of approximately 80 per cent of Highstreet Partners Limited, which wholly owns Highstreet Asset Management Inc., for an undisclosed purchase price. Highstreet's management team continues to hold the remaining 20 per cent of Highstreet Partners.

AGF is one of Canada's premier investment management companies with offices across Canada and subsidiaries around the world. Prior to the Highstreet acquisition, AGF had approximately $41 billion in total assets under management (immediately prior to closing), serving more than one million investors. Highstreet is an investment counsel firm based in London, Ontario with approximately $4.8 billion in assets under management at closing.

AGF's legal team was headed by Judy Goldring, general counsel and senior vice-president, law and corporate affairs and Dan Awrey, legal counsel, with assistance from McMillan Binch Mendelsohn LLP with an acquisition team that included Margaret McNee (corporate securities), John Clifford (corporate), Michael Friedman (tax) and Jeff Scanlon (corporate securities).

Osler, Hoskin & Harcourt LLP represented Highstreet with a team that included Andrew Aziz, Desmond Lee and Mark Hogan (corporate, securities) and Steve Suarez (tax).