VenGrowth Asset Management Inc.

May 14, 2008 16:49 ET

VenGrowth Appoints CIBC Mellon as Custodian for Funds

TORONTO, ONTARIO--(Marketwire - May 14, 2008) - The board of directors of each of VenGrowth's labour-sponsored investment funds have approved a decision to appoint CIBC Mellon as the new custodian for the following funds:

- The VenGrowth Investment Fund Inc.

- The VenGrowth II Investment Fund Inc.

- The VenGrowth III Investment Fund Inc.

- The VenGrowth Advanced Life Sciences Fund Inc.

- The VenGrowth Traditional Industries Fund Inc.

CIBC Mellon will replace the previous custodian, RBC Dexia Investor Services Limited. It is expected that the transition will be completed on or about July 1, 2008. An amendment to the prospectuses of the Funds in distribution will be filed.

About VenGrowth

Since 1982, VenGrowth's accomplished private equity managers have invested over $1.3 billion in close to 200 companies, building a strong track record of successful portfolio transactions. These investments have been made on behalf of over 180,000 individual investors and leading pension funds, banks, insurance companies and family foundations. Portfolio companies benefit from VenGrowth's substantial experience, resources, and hands-on investment style. VenGrowth's offices are located in Toronto (Corporate Headquarters) and Ottawa. For more information, please visit www.vengrowth.com.

Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus of a fund before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.

Contact Information