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Educators Financial Group Announces Completion of Fund Merger

Educators Financial Group Inc., the manager of the Educators Global Fund ("Global Fund") and Educators Balanced Fund ("Balanced Fund") today announced the completion of the merger of such Funds effective July 1, 2011.

In connection with the merger and the subsequent termination of the Global Fund, former Unitholders of the Global Fund received Class A units of the Balanced Fund for their Class A units of the Global Fund held at the close of business on June 30, 2011.

The number of units of the Balanced Fund issued to the Global Fund on the merger was calculated using an exchange ratio that was determined by dividing (i) the net asset value per Class A unit of the Global Fund as at the close of business on June 30, 2011, by (ii) the net asset value per Class A unit of the Balanced Fund as at the close of business on June 30, 2011.

Immediately following the merger, the Global Fund was wound-up and dissolved in accordance with its constating documents and concurrently ceased to be a reporting issuer.