IGM Financial Inc.
TSX : IGM

IGM Financial Inc.

March 19, 2008 13:32 ET

IGM Financial Inc.-Normal Course Issuer Bid Approved

WINNIPEG, MANITOBA--(Marketwire - March 19, 2008) - IGM Financial Inc. (TSX:IGM) today announced receipt of regulatory approval respecting its intention to continue its Normal Course Issuer Bid through the facilities of the Toronto Stock Exchange from March 22, 2008 to March 21, 2009.

The Corporation intends to purchase for cancellation, by means of open market transactions or such other means as may be permitted by the Toronto Stock Exchange, up to but not more than 13,199,884 of its issued common shares, representing 5 percent of the approximately 263,997,690 common shares outstanding on March 14, 2008. Daily repurchases will be limited to 73,286 common shares, other than block purchase exceptions. The average daily trading volume for the six months preceding the date hereof is 293,145 common shares. Within the past 12 months, the Corporation has purchased 1,810,600 common shares at an average price of $48.7676 per share pursuant to its then outstanding Normal Course Issuer Bid.

The Board of Directors has authorized this initiative because, in the Board's opinion, such purchase constitutes an appropriate use of funds which will benefit both the Corporation and its shareholders. The normal course issuer bid is being established to mitigate the dilutive effect of stock options issued under the Corporation's stock option plan and for other capital management purposes.

IGM Financial Inc. is one of Canada's premier personal financial services companies, and the country's largest manager and distributor of mutual funds and other managed asset products, with over $118 billion in total assets under management. Its activities are carried out principally through Investors Group, Mackenzie Financial Corporation and Investment Planning Counsel. IGM Financial Inc. is a member of the Power Financial Corporation group of companies.

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