Excel Funds Management Inc.

Excel Funds Management Inc.

July 03, 2007 17:54 ET

Excel Funds Management Inc. Files Final Prospectus for Excel India Trust

TORONTO, ONTARIO--(Marketwire - July 3, 2007) -

Attention Business Editors:



Toronto Excel Funds Management Inc. ("Excel Funds") on
behalf of the Excel India Trust (the "Trust") is
pleased to announce that it has filed and has
received a receipt from the securities regulators
across Canada for a final prospectus qualifying the
initial public offering of the units of the Trust,
a closed-end investment fund for which Excel Funds
will be the manager and trustee.

Offering Price The offering price is $10.00 per unit and the
minimum purchase quantity is 100 units ($1,000).

Investment Objectives The Trust has been designed to provide investors
with exposure to an actively managed portfolio (the
"Portfolio") consisting primarily of equity
securities of Indian companies. This exposure will
be achieved through a fund-on-fund structure
designed to minimize Indian withholding taxes on
capital gains and avoid certain investment
restrictions that would otherwise apply to foreign
investors investing in India.

The Trust's investment objectives are:
i) to provide holders of units with quarterly
distributions; and
ii) long-term capital appreciation

The Manager Excel Funds is a specialized fund management
company that focuses exclusively on investment
opportunities in the emerging markets sector. Excel
Funds manages highly ranked and award winning
funds, including the Excel India Fund, Excel China
Fund, Excel Chindia Fund and the Excel Income and
Growth Fund and currently has approximately
$600 million in assets under management.

Investment Manager The Portfolio will be actively managed by Birla Sun
Life Asset Management Company Limited (the
"Investment Manager") based in Mumbai, India. The
Investment Manager (a joint venture between the
Aditya Birla Group and Sun Life Financial Services
of Canada) has one of the largest teams of research
analysts in India and has over $5 billion of assets
under management as of May 1, 2007.

The Agents The syndicate of agents for this offering is being
co-led by CIBC World Markets Inc. and RBC Dominion
Securities Inc., and includes BMO Nesbitt Burns
Inc., National Bank Financial Inc., Scotia Capital
Inc., TD Securities Inc., Canaccord Capital
Corporation, Dundee Securities Corporation, HSBC
Securities (Canada) Inc., Raymond James Ltd.,
Desjardins Securities Inc., Berkshire Securities
Inc., Blackmont Capital Inc., IPC Securities
Corporation, Richardson Partners Financial Limited
and Wellington West Capital Inc.


This news release contains forward-looking statements that involve risks and uncertainties. These statements reflect Excel Funds' current expectations, but are subject to a number of risks and uncertainties. Due to the many risks and uncertainties, Excel Funds cannot assure that the forward-looking statements contained in this news release will be realized.

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