Mutual Fund Securities of: GGOF Alexandria RSP International Balanced Fund et al

Headnote

Extension of lapse date.

Statutes Cited

Securities Act, R.S.O. 1990, c.S.5, as am., ss. 62(1) and ss.62(5).

Rules Cited

National Instrument 81-101 entitled Mutual Fund Prospectus Disclosure.

UPON an application (the "Application") from Guardian Group of Funds Ltd. (the"Manager") on behalf of the Funds for an order pursuant to subsection 62(5) of the Actthat the time limits pertaining to the distribution of Mutual Fund securities under thecurrent simplified prospectus and annual information form (the "Prospectus") of theFunds be extended to those time limits that would be applicable if the lapse date of theProspectus was September 26, 2000;

AND UPON considering the Application and the recommendation of the staff ofthe Ontario Securities Commission;

AND UPON the Manager having represented as follows:

(a) The Manager is a corporation incorporated under the laws of Canada. TheManager is the manager and promoter of the Funds and trustee of all of theFunds other than GGOF Centurion American Value Fund Ltd. and GGOFMonthly Dividend Fund Ltd. (collectively the "Corporate Funds").

(b) The Funds, other than the Corporate Funds, are open-ended mutual fund trustsestablished by the Manager under the laws of Ontario. The Corporate Funds areopen-ended mutual fund corporations incorporated under the laws of Ontario.

(c) The Funds are reporting issuers under the Act and are not in default of anyrequirements of the Act and the rules and regulations made thereunder.

(d) Pursuant to the subsection 62(1) of the Act, the lapse date (the "Lapse Date") fordistribution of Mutual Fund securities pursuant to the Prospectus is September7, 2000.

(e) Since the date of the Prospectus, no material change has occurred and noamendments to the Prospectus have been made. Accordingly, the Prospectusrepresents up to date information regarding each of the Funds offered. Theextension requested will not affect the currency or accuracy of the informationcontained in the Prospectus of the Funds and accordingly will not be prejudicialto the public interest.

(f) A pro forma simplified prospectus and annual information form of the Funds wasfiled on July 7, 2000 incorporating the new requirements under NationalInstrument 81-101. The Manager has received extensive comments from theprincipal regulator and, despite diligent efforts to meet the timelines based onthe current Lapse Date, the Manager requires additional time to consider thesecomments and revise the disclosure documents accordingly. Without therequested extension of the Lapse Date there is not sufficient time for theManager to fully consider certain comments from the principal regulator and torevise the disclosure documents accordingly.

AND UPON the undersigned being satisfied that to do so would not beprejudicial to the public interest;

IT IS ORDERED pursuant to subsection 62(5) of the Act that the time limitsprovided by Act as they apply to the distribution of Mutual Fund securities pursuant tothe Prospectus are hereby extended to the time limits that would be applicable if theLapse Date for the distribution of securities under the Prospectus of the Funds wasSeptember 26, 2000.

September 14th, 2000.

"Rebecca Cowdery"