Saxon Financial Inc. secures institutional mandate with ClaringtonFunds Inc.

Howson Tattersall Investment Counsel Limited to manage Clarington 
Canadian Balanced Fund 

TORONTO, Feb. 20 /CNW/ - Saxon Financial Inc. today announced that its
institutional investment management subsidiary, Howson Tattersall Investment
Counsel Limited, will assume management of the Clarington Canadian Balanced
Fund, effective March 31, 2006. Howson Tattersall, investment advisor to the
highly regarded family of Saxon Mutual Funds, will employ the same value
management style as the Saxon Balanced Fund, named Balanced Fund of the Year
at the 2005 Canadian Investment Awards.
"We are pleased to add the management of the Clarington Canadian Balanced
Fund to our growing list of institutional mandates," said Allan Smith,
President and CEO of Saxon Financial Inc. Howson Tattersall Investment Counsel
manages more than $11 billion in assets for retail, private client and
institutional investors. Howson Tattersall Investment Counsel Limited manages
$9 billion in institutional assets, primarily for sub-advised mutual funds and
pension plan clients.
"We will manage the Clarington Canadian Balanced Fund according to our
value-oriented, disciplined investment approach which we have consistently
applied throughout our 20-year history to the benefit of our institutional and
retail investors," added Smith.
Howson Tattersall joins a select group of investment managers for
ClaringtonFunds, as Clarington seeks to strengthen its funds' performance by
enhancing its team of portfolio managers. "With an outstanding track record in
the Canadian Balanced category, we believe Howson Tattersall is an ideal
choice for this mandate." said David Scandiffio, President of ClaringtonFunds
Inc. "We look forward to building a long-term relationship with Howson
Tattersall and its highly regarded team of investment managers."
Saxon Financial Inc. manages segregated funds, sub-advised mutual funds,
endowments and pension funds in addition to the Saxon Mutual Funds. Saxon has
investment expertise in Canadian, global, small cap, international and U.S.
equities, as well as fixed income. "Our unique value investment approach has
provided our clients with strong returns, excellent downside protection and a
low correlation to related indexes and comparable investment mandates," noted
Smith.
Saxon's institutional assets under management have grown at a compounded
annual rate of 30% over a 5-year period. Headquartered in Toronto, the firm
recently expanded its institutional business by opening a Montreal office.
"With a presence in Ontario and Quebec, our institutional business is well
positioned to capture opportunities in the two provinces with the greatest
concentration of pension assets" added Smith.

About Saxon Financial (www.saxonfinancial.ca)

Saxon Financial Inc. is one of Canada's most respected value-style
investment management firms. The company has three principal lines of
business: Saxon Funds Management Limited, which manages a family of          
high-performing, no-load, low-fee mutual funds; Howson Tattersall Investment
Counsel Limited, an institutional asset investment management business; and
Howson Tattersall Private Asset Management Inc., which provides private client
asset management and counselling services.

About ClaringtonFunds Inc.

ClaringtonFunds Inc., which is wholly owned by Industrial Alliance
Insurance and Financial Services Inc., offers a wide variety of mutual funds
managed by leading Canadian and international portfolio managers. Based in
Toronto, Clarington maintains regional offices in major Canadian centres. The
company website is www.claringtonfunds.com.