Winnipeg, MB - February 2, 2004: Investors Group Inc. today announced, subject to regulatory approval, its intention to continue its Normal Course Issuer Bid through the facilities of the Toronto Stock Exchange from February 22, 2004 to February 21, 2005.
The Corporation intends to purchase for cancellation up to but not more than 1,320,854 of its issued common shares, representing 5 percent of the approximately 264,170,835 common shares outstanding on January 30, 2004. Within the past 12 months, the Corporation has purchased 112,300 common shares at an average price of $24.4077 per share pursuant to its then outstanding Normal Course Issuer Bid.
The Board of Directors has authorized this initiative because, in the Board's opinion, such purchase constitutes an appropriate use of funds which will benefit both the Corporation and its shareholders and it is expected that the purchase of shares pursuant to the bid will enhance the value of holdings of remaining shareholders of the Corporation, by providing such shareholders with a greater percentage interest in the Corporation and will tend to offset the dilution resulting from the granting of any options pursuant to the Corporation's Stock Option Plan.
Investors Group is a national leader in delivering personalized financial solutions to more than one million Canadians, through a network of close to 3,200 Consultants located in 100 Financial Planning Centres. In addition to an exclusive family of mutual funds, managed asset and other investment vehicles, Investors Group offers a wide range of mortgage, insurance, brokerage and banking services. Investors Group is a member of the Power Financial Corporation group of companies.
Media Contacts:
Greg D. Tretiak
Chief Financial Officer
Investors Group Inc.
Tel: (204) 956 8748
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W. Terry Wright, Q.C.
Senior Vice-President,
General Counsel & Secretary
Investors Group Inc.
Tel: (204) 956-8470
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Ron Arnst
Media Relations
Investors Group Inc.
Tel: (204) 956 3364
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