IGM Financial to purchase one million Common Shares for cancellation under Private Purchase

Winnipeg – August 26, 2008:  IGM Financial Inc. announced today that it has agreed to purchase for cancellation 1,000,000 (0.38% percent) of its currently outstanding common shares prior to September 25, 2008 pursuant to a private agreement between the Company and an arm’s-length third party seller (the “Private Purchase”). The shares purchased for cancellation pursuant to the Private Purchase will be included in calculating the maximum number of common shares that the Company may purchase through its normal course issuer bid share repurchase program that was announced on March 19, 2008.

The Private Purchase will be made pursuant to an issuer bid exemption order issued by the Ontario Securities Commission. The price that the Company will pay for the shares purchased under the Private Purchase will be negotiated between the Company and the seller, provided that the price paid for the shares will comply with the terms of the issuer bid exemption order and in no circumstances be greater than the closing market price of those shares on the Toronto Stock Exchange on the date of the purchase.

IGM Financial Inc. is one of Canada's premier personal financial services companies, and one of the country’s largest managers and distributors of mutual funds and other managed asset products, with $116.8 billion in total assets under management. Its activities are carried out principally through Investors Group, Mackenzie Financial Corporation and Investment Planning Counsel. IGM Financial Inc. is a member of the Power Financial Corporation group of companies.