BURLINGTON, ONTARIO--(MARKET WIRE)--Nov 11, 2008 -- AIC Limited today announced that after further review and analysis, certain AIC mutual funds will not pay partial distributions in connection with previously announced mergers.

On November 28, 2008, the following mergers may occur:

 

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                                                   Value Leaders Portfolios
AIC Portfolio Funds (the "Terminating Funds")       (the "Continuing Funds")
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AIC Diversified Income Portfolio Fund        Value Leaders Income Portfolio
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                                                              Value Leaders
AIC Balanced Income Portfolio Fund                Balanced Income Portfolio
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                                                              Value Leaders
AIC Balanced Growth Portfolio Fund                Balanced Growth Portfolio
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AIC Core Growth Portfolio Fund               Value Leaders Growth Portfolio
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                                                              Value Leaders
AIC PPC Balanced Income Portfolio Pool            Balanced Income Portfolio
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                                                              Value Leaders
AIC PPC Balanced Growth Portfolio Pool            Balanced Growth Portfolio
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AIC PPC Core Growth Portfolio Pool           Value Leaders Growth Portfolio
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In order to facilitate the mergers of the Terminating Funds into the Continuing Funds, the Terminating Funds will be liquidating some of their positions in the underlying funds they hold. After further review and analysis, it was determined that none of the underlying funds will pay a partial distribution prior to the mergers.

AIC commenced operations in 1985 and has grown to become one of Canada's largest privately-held mutual fund companies with assets under management of approximately $4.1 billion.

     Contacts:
     AIC Limited
     Client Services Department
     1-800-263-2144
      
     AIC Limited
     Terri Oswald
     Director, Media Relations
     (905) 331-4242, ext. 4345 or 1-888-710-4242, ext. 4345
     Email: toswald@aic.com
     Website: http://www.aic.com