Transmitted At: 2007-05-24 12:21

Attention Business Editors:

Canadian investment firm changes name to signal increasing global perspective

TORONTO, May 24 /CNW/ - To reflect the increasing global nature of its assets and strategies, one of Canada's leading investment management firms today announced it is changing its name to Galileo Global Equity Advisors Inc. effective immediately.

Previously known as Galileo Equity Management, "our new name symbolizes our broader outlook and recognizes the fact that a significant amount of our discretionary portfolios are invested outside Canada," said Michael Waring, who co-founded the firm seven years ago. "Although we are proudly Canadian, our intense focus on uncovering opportunities internationally simply means our name is now catching up to reality."

Mr. Waring said the firm has experienced substantial interest from its Canadian clientele in its "bottom up" global investment research and "we think this trend will only intensify because opportunities in emerging economies are simply so attractive and there are no longer limitations on foreign content within registered plans. However, it's not simply good enough to look at these
opportunities from afar. At Galileo, we have made it a policy to engage in deep research, get to know management teams and where they do business, whether it's in Toronto, Shanghai, Accra or Rio and work up a full analysis that allows us to make quality decisions."

"This is a very exciting time to be an investment manager and I'm exceptionally proud of the Galileo Global Equity approach. Over the last several years, global markets have become more interconnected and good investment opportunities can't be ignored."

About Galileo Global Equity Advisors Inc.

Founded in 2000, Galileo serves both institutional and private wealth clients, is the manager of Galileo Funds - one of the fastest-growing new mutual fund groups in Canada - as well as the Citadel Group of Funds' Energy Plus Income Trust, Sustainable Production Energy Trust and CGF Resource 2006 Flow-Through Limited Partnership. Visit the Company's website at www.galileoequity.com.

For further information: Dan Hall, Executive Vice President, (416) 594-0606