Connor, Clark & Lunn Conservative Income Fund

March 21, 2005 17:12 ET

Connor, Clark & Lunn Conservative Income Fund (TSX:CCQ.UN) Declares Monthly Distribution


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: CONNOR, CLARK & LUNN CONSERVATIVE INCOME FUND

TSX SYMBOL: CCQ.UN

MARCH 21, 2005 - 17:12 ET

Connor, Clark & Lunn Conservative Income Fund
(TSX:CCQ.UN) Declares Monthly Distribution

TORONTO, ONTARIO--(CCNMatthews - March 21, 2005) - Connor, Clark & Lunn
Conservative Income Fund (the "Trust") (TSX:CCQ.UN) today announced a
monthly cash distribution of $0.0583 per unit. The distribution
represents approximately a 7.0% per annum yield on the issue price of
$10.00 per unit. Payment will be made to unit holders of record at the
close of business on March 31, 2005 and will be distributed on April 15,
2005.

The Trust is an investment trust that has been created to invest in a
conservatively managed, diversified portfolio of Canadian business
trusts, real estate investment trusts, corporate bonds and convertible
bonds. Connor, Clark & Lunn Investment Management Ltd. (the "Investment
Manager") will employ a multi-disciplined investment strategy
emphasizing credit-oriented factors that focuses on controlling downside
risk while retaining the potential for capital appreciation.

Connor, Clark & Lunn Capital Markets Inc. is the Manager of the Trust
and is part of the Connor, Clark & Lunn Financial Group of companies
which manage approximately $25.8 billion in financial assets.

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