TORONTO, ON, August 1, 2002 - ClaringtonFunds Inc.
("Clarington") today announced that Patrick Slater is no longer
with QVGD Investors Inc. ("QVGD"), the sub-advisor for the
Clarington Canadian Small Cap Fund (the "Fund"). Patrick Slater was
formerly a portfolio manager with QVGD. Leigh Pullen, President and
Chief Investment Officer of QVGD continues to be the lead manager
of the Fund. Leigh continues to be supported by Joe Jugovic, CFA,
and QVGD's entire investment team in the management of the Fund.
QVGD manages close to $250 million with a focus on small cap
investing.
ClaringtonFunds Inc., founded in 1995, has over $2.8 billion in
assets in 36 funds, with offices in Vancouver, Calgary, Toronto and
Montreal.