Press Releases

Management Change at Altamira

Montreal, 3 May 2005 -

Greg A. Reed has announced his decision to resign as President and Chief Executive Officer of Altamira Investment Services and as a Senior Vice-President of National Bank of Canada.

Michel Tremblay, Senior Vice-President – Personal Banking and Wealth Management of National Bank, is pleased to announce that Charles Guay will be assuming the duties of President and CEO of Altamira, effective today.

Before joining National Bank as President and Chief Operating Officer of National Bank Securities in 2001, Mr. Guay acquired solid investment management and business development experience through a fast-track career path that included positions as a futures trader, stockbroker and, finally, district vice-president at Fidelity Investments.   Mr. Guay will continue to assume the duties of President and Chief Executive Officer of National Bank Securities.

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 more than $90 billion and, together with its subsidiaries, employs close to 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.

About Altamira
Altamira is a leading investment services company, offering a wide range of mutual funds, savings products, managed portfolios, and financial planning services. Award-winning client service, product innovation and expert advice define Altamira’s distinctive approach to investment management. The company is headquartered in Toronto with offices across the country, and is a subsidiary of the National Bank of Canada.

Information (The telephone numbers 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

Glenn Cooper
Director of Communications
Altamira Investment Services
Tel.: (416) 507-7044