National Bank Securities Announces Measures to Optimize Its Investment Fund Line-Up

• Press Release
• Source: National Bank Financial Group
• On 8:30 am EDT, Monday April 6, 2009

MONTREAL, QUEBEC--(Marketwire - April 6, 2009) - National Bank Securities announces the convening of special securityholder meetings to obtain approval for changes to a number of its funds. These changes aim to simplify its mutual fund line-up, while also delivering benefits for both investors and the financial advisors who distribute National Bank Securities' funds.

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{"s" : "na.to","k" : "c10,l10,p20,t10","o" : "","j" : ""}

Simplification of the line-up will result from merging 29 National Bank and Altamira Funds that have similar investment objectives. Further, the investment objectives for three funds will be modified to give their portfolio managers more flexibility and potential for greater returns. Finally, 15 funds will also be renamed to better reflect their investment objectives and brand attributes.

"This is the final phase of the process of integrating Altamira into National Bank Securities, a process that began last November", declared Charles Guay, President and Chief Executive Officer of National Bank Securities.

Once these changes are complete, National Bank Securities will have four fund families - each with its own characteristics, distinct features and advantages. In a context where the fund offering available to investors in Canada is both broad and complex, National Bank Securities wishes to make it easier to understand the distinctions between the National Bank, Altamira, Omega and Meritage fund families.

- National Bank Mutual Funds: core funds managed by Natcan Investment Management;

- Altamira Funds: specialized funds managed by Natcan Investment Management;

- Omega Funds(TM): funds for which the portfolio management is conducted by external firms;

- Meritage Portfolios(TM): investment portfolios comprised of 100 % third-party funds.

National Bank Securities is also taking this opportunity to slightly reposition the branding of its funds, in order to render its product line-up more intuitive. All in all, National Bank Securities believes this exercise will enable it to better respond to the needs of its growing clientele of investors and financial advisors, and ultimately increase its competitiveness in the marketplace.

At the special meetings, scheduled for June 4 to 11, 2009, securityholders of the relevant funds will consider various matters, including:

- changing the fundamental investment objectives of National Bank/Fidelity True North® Fund (which will be renamed "Omega Canadian Equity Fund") and of National Bank/Fidelity Global Fund (which will be renamed "Omega Global Equity Fund") to move from a "fund of fund" structure to a regular structure, while nonetheless maintaining similar objectives;

- changing the fundamental investment objective of Altamira US Larger Company Fund (which will be renamed "Altamira U.S. Equity Fund") to broaden its mandate in order to allow investments in securities of American companies of all capitalizations;

- the modernization of the declarations of trust of National Bank/Fidelity True North® Fund, National Bank/Fidelity Global Fund, Altamira US Larger Company Fund and Altamira Income Fund; and

- the fund mergers set forth in the following table :

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                             Proposed Mergers
Each Terminating Fund shall merge into the corresponding Continuing Fund.
Certain funds will also be renamed, as indicated.
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Terminating Fund             Continuing Fund                   Name Changes
---------------------------------------------------------------------------
National Bank Treasury Bill  National Bank Money
 Plus Fund                   Market Fund
Altamira T-Bill Fund
---------------------------------------------------------------------------
Altamira Short Term          National Bank Mortgage
 Government Bond Fund        Fund 
---------------------------------------------------------------------------
Altamira Inflation-          Altamira Global Bond
 Adjusted Bond Fund          Fund 
---------------------------------------------------------------------------
Altamira Long Term           National Bank Global           Will be renamed
 Bond Fund                   Bond Fund                "Altamira Global Bond
Altamira Short Term Global                                            Fund"
 Income Fund
---------------------------------------------------------------------------
Altamira High Yield          National Bank High             Will be renamed
 Bond Fund                   Yield Bond Fund           "Altamira High Yield
                                                                 Bond Fund"
---------------------------------------------------------------------------
Altamira Monthly Income      National Bank Monthly
 Fund                        Income Fund
---------------------------------------------------------------------------
Altamira Balanced Fund       National Bank Balanced 
National Bank Retirement     Diversified Fund
 Balanced Fund
---------------------------------------------------------------------------
Altamira Global              National Bank Growth
 Diversified Fund            Diversified Fund 
---------------------------------------------------------------------------
National Bank/Fidelity       Altamira Growth &              Will be renamed
 Canadian Asset Allocation   Income Fund                 "Altamira Tactical
 Fund                                                Asset Allocation Fund"
---------------------------------------------------------------------------
Altamira Canadian Value      National Bank Canadian
 Fund                        Equity Fund 
---------------------------------------------------------------------------
Altamira Capital Growth      Altamira Equity Fund           Will be renamed
 Fund Limited                                            "Altamira Canadian
                                                        Equity Growth Fund"
---------------------------------------------------------------------------
Altamira Special Growth      National Bank Small
 Fund                        Capitalization Fund 
---------------------------------------------------------------------------
Altamira Global Value Fund   National Bank Global 
National Bank Future         Equity Fund
 Economy Fund
---------------------------------------------------------------------------
Altamira Select American     Altamira US Larger             Will be renamed
 Fund                        Company Fund                    "Altamira U.S.
                                                               Equity Fund"
---------------------------------------------------------------------------
National Bank European       Altamira European
 Equity Fund                 Equity Fund
---------------------------------------------------------------------------
National Bank Asia-Pacific   Altamira Asia
 Fund                        Pacific Fund 
---------------------------------------------------------------------------
Altamira Global Discovery    National Bank Emerging         Will be renamed
 Fund                        Markets Fund                   "Omega Emerging
                                                              Markets Fund"
---------------------------------------------------------------------------
National Bank European       Altamira Global Small
 Small Capitalization Fund   Company Fund 
---------------------------------------------------------------------------
National Bank Natural        Altamira Resource Fund
 Resources Fund
---------------------------------------------------------------------------
National Bank Global         Altamira Science and
 Technologies Fund           Technology Fund
---------------------------------------------------------------------------
National Bank Canadian       Altamira Precision             Will be renamed
 Index Fund                  Canadian Index Fund         "Altamira Canadian
National Bank Canadian                                          Index Fund"
 Index Plus Fund
---------------------------------------------------------------------------
National Bank American       National Bank                  Will be renamed
 Index Plus Fund             American Index Fund             "Altamira U.S.
                                                                Index Fund"
---------------------------------------------------------------------------
Altamira Precision           Altamira Precision             Will be renamed
 European Index Fund         International          "Altamira International
                             Currency Neutral              Currency Neutral
                             Index Fund                         Index Fund"
---------------------------------------------------------------------------
Altamira Precision U.S.      Altamira Precision U.S.        Will be renamed
 Midcap Index Fund           Currency Neutral Index          "Altamira U.S.
                             Fund                          Currency Neutral
                                                                Index Fund"

The management fees of National Bank American Index Fund and of National Bank International Index Fund will be reduced to 0.45% in order to be aligned with the Altamira Index Funds.

Three other funds will also change names at that time: Altamira Short Term Canadian Income Fund will be renamed "National Bank Short Term Canadian Income Fund", National Bank Quebec Growth Fund will be renamed "Altamira Quebec Growth Fund" and National Bank International Index Fund will be renamed "Altamira International Index Fund".

Subject to regulatory and securityholder approval and to the positive recommendation of the Independent Review Committee, the proposed changes will take effect on or about June 12, 2009. Should the required approvals not be obtained, such fund(s) will continue to exist as they did before, with the exception of Altamira T-Bill Fund, which would then be terminated.

Immediately following the close of business on April 6, 2009, the Terminating Funds will be closed to new purchases, with the exception of pre-established systematic investment and distribution reinvestment plans.

All information pertaining to the changes proposed as part of the special meetings will be provided to current investors, and potential investors can obtain this information from National Bank Securities prior to the special meetings. The time and place of the special meetings will appear in the notice of meeting and management information circular which will be mailed to securityholders. In addition, this information will be posted to www.sedar.com and will be available from your advisor or from National Bank Securities.

About National Bank Securities Inc.

The National Bank Mutual Funds (including the Omega Funds(TM)) and the Altamira Funds (the "Funds"), as well as the Meritage Portfolios ® (the "Porfolios") are offered by National Bank Securities Inc., a wholly owned subsidiary of National Bank of Canada. Commissions, trailing commissions, management fees and expenses all may be associated with investments in the Funds or in the Portfolios. Please read the prospectus of the Funds or of the Portfolios before investing. The Funds' and Portfolios' securities are not insured by the Canada Deposit Insurance Corporation or by any other government deposit insurer. The Funds and the Portfolios are not guaranteed, their values change frequently and past performance may not be repeated.

"Omega Funds(TM)" and the Omega Funds logo and ''Meritage Portfolios®'' and the Meritage Portfolios logo are trademarks of National Bank of Canada, used under license by National Bank Securities Inc.

About National Bank of Canada

National Bank of Canada, which is celebrating its 150th anniversary in 2009, is an integrated group which provides comprehensive financial services to consumers, small and medium-sized enterprises and large corporations in its core market, while offering specialized services to its clients elsewhere in the world. The National Bank offers a full array of banking services, including retail, corporate and investment banking. It is an active player on international capital markets and, through its subsidiaries, is involved in securities brokerage, insurance and wealth management as well as mutual fund and retirement plan management. National Bank has close to $137 billion in assets and, together with its subsidiaries, employs 17,199 people. The Bank's securities are listed on the Toronto Stock Exchange (TSX:NA - News). For more information, visit the Bank's website at www.nbc.ca.

The telephone number provided below is for the exclusive use of journalists and other media representatives

Marie-Claude Lavigne
National Bank Financial Group
Public Relations
514-394-6500