Unitholders Approve Proposed Changes to the Desjardins Family of Mutual Funds

Lévis (Québec), November 9, 2007 – The Fédération des caisses Desjardins du Québec announces that the following previously announced changes to its Desjardins family of mutual funds were approved by the unitholders of the affected funds at special meetings held on November 9, 2007 :

• The investment objective of the Desjardins Fidelity Small Cap America Fund will be changed to allow the Fund to achieve long-term capital growth by investing primarily in a diversified portfolio of securities of small capitalization Foreign and Canadian companies. From there on the Fund may effectuate direct investments in issuers’ securities rather than being restricted to investing through another mutual fund. This change is also intended to broaden the Fund’s mandate and enhance diversification by permitting the purchase of securities of non-U.S. issuers. Pursuant to this change the name of the Fund will be changed to Desjardins Global Small Cap Equity Fund.


• The investment objective of the Desjardins Select Global Equity Fund will be changed to allow the Fund to achieve long-term capital growth by investing primarily in a diversified portfolio of equity securities of Foreign and Canadian companies. From there on the Fund may effectuate direct investments in issuers’ securities rather than being restricted to investing through other mutual funds. This change is also intended to broaden the Fund’s mandate and enhance global diversification. Pursuant to this change the name of the Fund will be changed to Desjardins Global All Cap Equity Fund.


• The Desjardins Select Canadian Equity Fund will be merged into the Desjardins Canadian Equity Value Fund.


• The Desjardins CI Canadian Investment Fund will be merged into the Desjardins Canadian Equity Value Fund.


• The Desjardins Fidelity Canadian Growth Company Fund will be merged into the Desjardins Canadian Small Cap Equity Fund.


• The Desjardins Select Canadian Balanced Fund will be merged into the Desjardins Canadian Balanced Fund.


• The Desjardins Select American Equity Fund will be merged into the Desjardins American Equity Value Fund.


• The Desjardins Fidelity Global Fund will be merged into the Desjardins Select Global Equity Fund which will have adopted a new investment objective and changed its name as mentioned above.


• The Desjardins Global Science and Technology Fund will be merged into the Desjardins Global Equity Value Fund.

It is expected that the changes of investment objective along with the changes of name will be implemented on January 15, 2008. As for the mergers, subject to the approval of the concerned regulators, they should be effectuated on January 18, 2008.

About Desjardins Group

Desjardins Group is the largest integrated cooperative financial group in Canada, with overall assets of more than $143 billion, as of June 30, 2007. It comprises a network of caisses, credit unions and business centres in Québec and Ontario, and some twenty subsidiary companies in life and general insurance, securities brokerage, venture capital and asset management, many of which are active across the country. Drawing on the expertise of its 40,000 employees and the commitment of nearly 6,800 elected officers, Desjardins offers its 5.8 million individual and corporate members and clients a full range of financial products and services. Its physical distribution network is complemented by leading-edge virtual access methods.

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