Investment Planning Counsel Inc. Reports August 2008 Mutual Fund Assets Under Management and Sales

* Reuters is not responsible for the content in this press release.

Tue Sep 2, 2008 5:22pm EDT 

  TORONTO, ONTARIO, Sep 02 (MARKET WIRE) -- 
Counsel Group of Funds Inc. a division of Investment Planning Counsel,
Inc. today reported preliminary mutual fund assets under management and
sales for the month ending August 31, 2008 as follows:

    Mutual fund assets under management were $2.11-billion at August 31,
2008, compared to $2.29 billion at August 31, 2007.


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Mutual Fund Sales - Month              August 2008              August 2007
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$ millions (unaudited)     Sales  Redemptions  Net New Money  Net New Money
                                                          (i)            (i)
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Long Term                   14.0         25.8          (11.8)           2.4
Money Market                 1.9          1.2            0.7            3.4
                           -------------------------------------------------
Total                       15.9         27.0          (11.1)           5.8
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Mutual Fund Sales - YTD                August 2008              August 2007
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$ millions (unaudited)     Sales  Redemptions  Net New Money  Net New Money
                                                          (i)            (i)
----------------------------------------------------------------------------
Long Term                  156.1        208.1          (52.0)         111.6
Money Market                26.9         14.3           12.6           16.9
                           -------------------------------------------------
Total                      183.0        222.4          (39.4)         128.5
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    (i) Net New Money is defined as Sales less Redemptions and is
consistent with the terminology used by The Investment Funds Institute of
Canada (IFIC).

    Additional information about Counsel mutual fund assets and fund flows
will be available on the Investment Funds Institute of Canada (IFIC) web
site (www.ific.ca) on approximately the 15th of each month as part of a
Canadian industry-wide release of monthly statistics.

    Investment Planning Counsel is an integrated wealth management company
focused on providing Canadians with financial products, services and
advice to help them achieve their financial dreams. Investment Planning
Counsel has developed a strategy that marries the needs of the planners
with that of the company. Investment Planning Counsel's intent is to be
the premier choice among financial planners who are dedicated to serving
the needs of their clients. Investment Planning Counsel is a member of
the IGM Financial Inc. (TSX: IGM) group of companies.

Contacts:
Investment Planning Counsel
Steve Meehan
Chief Executive Officer
(905) 212-9799
(905) 212-9675 (FAX)
Email: smeehan@ipcfn.com

Copyright 2008, Market Wire, All rights reserved.

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