Investors Group Inc. - Normal Course Issuer Bid Approved

The Corporation intends to purchase for cancellation up to but not more than 13,208,542 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 Inc., is one of Canada's premier mutual fund, managed asset and personal financial services companies. With close to 2.5 million clients and more than $81 billion in assets under management and administration, Investors Group Inc. holds a strong leadership position in the financial services industry. The Company's two operating units, Investors Group and Mackenzie Financial Corporation offer their own distinctive products and services through separate advice channels encompassing over 38,000 consultants and independent financial advisors. Investors Group Inc. is a member of the Power Financial group of companies, and its shares are listed on the Toronto Stock Exchange (IGI).

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