Important guarantee information and disclaimer

Important Guarantee Information and Disclaimer

* For illustrative purposes only.

Each of the IA Clarington Target Click Funds (the "Funds") holds fixed income securities issued by the Canadian federal or provincial governments that support payment on the Fund's maturity date of the highest month-end net asset value per unit achieved during the life of the Fund. In normal circumstances, it is expected that this fixed income component would ensure payment of the guaranteed value. In addition to the fixed income component, Industrial Alliance Insurance and Financial Services Inc. ("Industrial Alliance"), the parent company of the Portfolio Advisor to the Funds, has provided a guarantee to each of the Funds that it will pay any shortfall to the Fund if the net asset value of any Fund is less than its guaranteed value at maturity. If such a payment were required to be made, it would be subject to the creditworthiness of Industrial Alliance.

Each Fund's maturity date will occur on June 30 of the year specified in the Fund's name. The guaranteed amount will benefit the investors who hold units of the Fund on that maturity date. In some circumstances, the maturity date for a Fund may be accelerated, in which case the Fund will pay the greater of the net asset value on that accelerated maturity date and the net present value of the guaranteed amount, less any applicable redemption charges.

Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Any indicated rates of return are the historical annual compounded total returns including changes in security value and reinvestment of all distributions/dividends and does not take into account sales, redemption, distribution or optional charges or income taxes payable by any security holder that would have reduced returns. Mutual funds are not generally guaranteed, their values change frequently and past performance may not be repeated. However, each IA Clarington Target Click Fund has the benefit of the guarantee described above.

The information contained above may include estimates, projections and other "forward-looking statements." Actual events may differ substantially from those presented herein. IA Clarington Investments Inc. assumes no duty to update any such forward-looking statements or any other information or opinions in this document. IA Clarington makes no representation that future investment performance will conform to past performance and it should never be assumed that past performance foretells future performance.

The IA Clarington Funds and IA Clarington Target Click Funds are managed by IA Clarington Investments Inc. IA Clarington is a trademark of IA Clarington Investments Inc. and the IA Clarington logo is a trademark of Industrial Alliance Insurance and Financial Services Inc.

On July 10, 2009 The IA Clarington Target Click 2010 Fund closed to new purchasers, other than investors who purchase under pre-existing systematic plans. The fund's maturity date has been accelerated to September 18, 2009, and on that date, investors will receive the higher of the accelerated guaranteed value and the net asset value per unit ("NAV Per Unit") of their investments. The NAV Per Unit is currently equal to the full guaranteed value, and IA Clarington expects that the NAV Per Unit will equal the full guaranteed value on the accelerated maturity date.