Qtrade Fund Management Announces Update on Fund Changes

VANCOUVER, Aug. 13 /CNW/ - Qtrade Fund Management Inc. ("QFM"), manager of the QFM family of mutual funds (the "QFM Funds") and the Meritas family of mutual funds (the "Meritas Funds"), has issued an update on the proposed changes to the QFM Funds and Meritas Funds announced April 30, 2010. QFM subsequently determined that it will not proceed with the announced change to the sub-adviser of the Meritas Money Market Fund, and accordingly, GWL Investment Management Ltd. continues to be the sub-adviser of that fund. The remaining fund changes announced earlier are proceeding and are expected to be fully implemented by October, 2010, subject to applicable notice requirements and receipt of applicable unitholder and regulatory approvals.

About the Qtrade Financial Group

The Qtrade Financial Group provides comprehensive brokerage and wealth management platforms, services and solutions to the retail public as well as the customers of over 180 financial institutions across Canada. Since 1999, Qtrade has been dedicated to providing its financial institution partners with a single source for market-leading wealth management products and services including: online, full-service and institutional brokerage services, mutual fund dealer services, insurance dealer services, portfolio management and discretionary money management services and proprietary managed money solutions. For more information visit www.qtrade.ca.

For further information: Qtrade Financial Group, Pamela Patton, Vice President, Marketing & Partner Relations, T 604.678.6962, E [email protected]