IA Clarington Aligns Fund Names and Launches New Brand Image

Former IA Funds, R Funds and Clarington Funds are Renamed IA Clarington Funds

Toronto, Ontario, July 10, 2007- IA Clarington Investments Inc. (IA Clarington) today announced that the former IA Funds, R Funds and Clarington Funds (the funds) have been renamed to be consistent with the corporate brand, "IA Clarington."

"The re-branding of our funds marks the culmination of an integration that began more than a year ago when Industrial Alliance and Clarington decided to come together," said David Scandiffio, President, IA Clarington. "Simultaneously, we are unveiling our new image and tag line - 'be invested,' which speaks to the importance of participating in the markets and being engaged in whatever one does. At IA Clarington, we are fully invested in working with financial advisors to help their clients achieve financial freedom, so that they, in turn, can be personally invested in whatever it is they want from life."

IA Clarington's new brand image can be seen on the company's new marketing material and advertising.

FORMER NAME NEW NAME
FIXED INCOME FUNDS FIXED INCOME FUNDS
IA Bond Fund IA Clarington Bond Fund
IA Money Market Fund IA Clarington Money Market Fund
Clarington Short-Term Income Class IA Clarington Short-Term Income Class
CANADIAN CASH DISTRIBUTION FUNDS CANADIAN CASH DISTRIBUTION FUNDS
Clarington Canadian Dividend Fund IA Clarington Canadian Dividend Fund
Clarington Canadian Income Fund IA Clarington Canadian Income Fund
Clarington Canadian Income Fund II IA Clarington Canadian Income Fund II
Clarington Diversified Income Fund IA Clarington Diversified Income Fund
R Dividend Income Fund IA Clarington Dividend Income Fund
IA Dividend Growth Fund IA Clarington Dividend Growth Fund
Clarington Income Trust Fund IA Clarington Income Trust Fund
R Monthly Income Balanced Fund IA Clarington Monthly Income Balanced Fund
U.S. AND GLOBAL CASH DISTRIBUTION FUNDS GLOBAL AND U.S. CASH DISTRIBUTION FUNDS
Clarington Global Dividend Fund IA Clarington Global Dividend Fund
Clarington Global Income Fund IA Clarington Global Income Fund
Clarington U.S. Dividend Fund IA Clarington U.S. Dividend Fund
CANADIAN FUNDS CANADIAN FUNDS
Clarington Canadian Balanced Fund IA Clarington Canadian Balanced Fund
IA Canadian Conservative Equity Fund IA Clarington Canadian Conservative Equity Fund
Clarington Canadian Equity Fund IA Clarington Canadian Equity Fund
Clarington Canadian Equity Class IA Clarington Canadian Equity Class
R Canadian Growth Fund IA Clarington Canadian Growth Fund
Clarington Canadian Growth & Income Fund IA Clarington Canadian Growth & Income Fund
R Canadian Leaders Fund IA Clarington Canadian Leaders Fund
Clarington Canadian Small Cap Fund IA Clarington Canadian Small Cap Fund
R Canadian Smaller Companies Fund IA Clarington Canadian Opportunities Fund
Clarington Canadian Value Fund IA Clarington Canadian Value Fund
R Balanced Fund IA Clarington Diversified Balanced Fund
U.S. AND GLOBAL FUNDS U.S. AND GLOBAL FUNDS
R American Fund IA Clarington American Fund
Clarington Navellier U.S. All Cap Fund IA Clarington Navellier U.S. All Cap Fund
Clarington Global Equity Fund IA Clarington Global Equity Fund
Clarington Global Equity Class IA Clarington Global Equity Class
Clarington Global Small Cap Fund IA Clarington Global Small Cap Fund
R Global Value Fund IA Clarington Global Value Fund
CORE PORTFOLIO CORE PORTFOLIO
Clarington Core Portfolio IA Clarington Core Portfolio
TARGET CLICK FUNDS TARGET CLICK FUNDS
Clarington Target Click 2010 Fund IA Clarington Target Click 2010 Fund
Clarington Target Click 2015 Fund IA Clarington Target Click 2015 Fund
Clarington Target Click 2020 Fund IA Clarington Target Click 2020 Fund
Clarington Target Click 2025 Fund IA Clarington Target Click 2025 Fund

Investors and advisors should be advised that, effective immediately, the funds will be reported as IA Clarington Funds in the mutual fund reports of daily newspapers and online information services.

About IA Clarington Investments

IA Clarington Investments Inc., a subsidiary of Industrial Alliance Insurance and Financial Services Inc., markets a wide range of investment products, including mutual funds, segregated funds, principal protected notes and closed end funds managed by leading Canadian and international portfolio managers. IA Clarington and its subsidiaries managed over $7 billion in assets as at May 31, 2007.