Media Release

AGF Management Limited (AGF) reported total fee-earning assets under management (AUM) of $38.5 billion as at June 30, 2009, an increase of 2.9% from May 31, 2009. Mutual fund assets of $21.2 billion increased 1.5% during the month of June, marking the fourth straight month of rising AUM. Net redemptions of long-term mutual funds were $44.1 million for the month ended June 30, 2009, compared with long-term fund net redemptions of $327.5 million in June 2008.

($ millions)	Assets at June 30/09	Gross Sales June 2009	Redemptions June 2009	Net Sales June 2009	Net Sales June 2008
Long-term funds	$20,668	$214.5	$258.6	$(44.1)	$(327.5)
Money market	577	9.0	26.5	(17.5)	(9.2)
Total mutual funds	$21,245	$223.5	$285.1	$(61.6)	$(336.7)
Institutional and strategic accounts + High-net-worth	17,265
Total Assets	$38,510

Average daily mutual fund AUM for June 2009 was $21.2 billion. AGF institutional, strategic and high-net-worth AUM declined to $17.3 billion from $22.5 billion at June 2008, primarily as a result of market volatility.

About AGF Management Limited

AGF Management Limited is one of Canada's premier investment management companies with offices across Canada and subsidiaries around the world. AGF's products and services include a diversified family of award-winning mutual funds, AGF Elements portfolios, the Harmony asset management program, services for institutional and high-net-worth clients, as well as AGF Trust GICs, loans and mortgages. With approximately $38.5 billion in total assets under management, AGF serves more than one million investors. AGF trades on the Toronto Stock Exchange under the symbol AGF.B.

AGF Management Limited shareholders and analysts, please contact:

Greg Henderson, CA
Senior Vice-President and Chief Financial Officer
416-865-4156
greg.henderson@AGF.com

Deirdre Neary
Director, Investor Relations
416-815-6268
deirdre.neary@AGF.com

Media, please contact:

Lucy Becker
Vice President, Corporate Communications
416-865-4284
lucy.becker@AGF.com