National Bank Securities Inc. announces changes to fund management of National Bank Mutual Funds

National Bank Securities Inc., manager of the National Bank Mutual Funds, announced today changes to its investment management mandates.

Consequently, National Bank Natural Resources Fund, National Bank Future Economy Fund and National Bank Global Technologies Fund will, from now on be managed by its sister subsidiary, Altamira Management Ltd. These funds were previously managed by Natcan Investment Management Inc.

These changes are aimed at taking advantage of the combined expertise of Natcan and Altamira where both firms will continue to build on their respective teams and strengths. In light of this, Natcan Investment Management Inc. will continue to specialize in the management of bond and income funds and in the Core funds and it will maintain its mixed management style, which combines the value approach to the growth approach at a reasonable price. Moreover, investors will benefit from the strong expertise of Altamira Management Ltd. as portfolio manager of growth funds, sectorial funds or specialized funds.

About Altamira Management Ltd.

Altamira, a subsidiary of the National Bank of Canada, is a leading investment management company that offers a wide range of products and services to individual and institutional clients. The company is headquartered in Toronto with offices across the country. Altamira's website is www.altamira.com.

 About the National Bank of Canada

National Bank of Canada is an integrated group which provides comprehensive financial services to consumers, small and medium-sized enterprises and large corporations in its core market, while offering specialized services to its clients elsewhere in the world. The National Bank offers a full array of banking services, including retail, corporate and investment banking. It is an active player on international capital markets and, through its subsidiaries, is involved in securities brokerage, insurance and wealth management as well as mutual fund and retirement plan management. The National Bank has assets of over $75 billion and, together with its subsidiaries, employs over 17,000 people. The Bank's securities are listed on the Toronto Stock Exchange (NA:TSX). For more information, visit the Bank's website at www.nbc.ca.

Information (the telephone number and e-mail address provided below are for the exclusive use of journalists and other media representatives) :

Denis Dubé
Manager, Public Relations Department
National Bank of Canada
Tel.: (514) 394-8644
E-mail: denis.dube@nbc.ca