Matrix Asset Management Inc.

Matrix Asset Management Inc.

April 16, 2010 13:19 ET

Matrix Asset Management Inc. Manages $3.0 Billion in Assets

HALIFAX, NOVA SCOTIA--(Marketwire - April 16, 2010) - Matrix Asset Management Inc. (TSX:MTA) ("Matrix") is pleased to announce that, as of March 31, 2010, its combined subsidiaries had a total of $3.0 billion in assets under management:

Assets under management under the current structure are as follows:

Institutional and high net worth: $1.6 billion
Retail: $1.4 billion
Total: $3.0 billion

Matrix also announced today that Deloitte & Touche LLP ("Deloitte") has been appointed auditor of the Company. This appointment follows the resignation of Ernst & Young LLP ("E&Y") in connection with the business combination among Matrix, SEAMARK and GrowthWorks completed in January 2010. E&Y was appointed auditor on an interim basis at the time the Company was formed in 2009. Following the business combination, the Company completed a formal search for an auditor and appointed Deloitte.

About Matrix (

Matrix (TSX:MTA) is a diversified asset and wealth management company with offices across Canada. The Company's mission is to provide a diverse array of investment choices and the best possible investment management service to Canadian investors and institutions. The company delivers its services through three main operating subsidiaries serving institutional, high net worth, and retail investors.

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