LeeSide Capital Principals Officially Assume Portfolio Management Responsibilities for SEAMARK

HALIFAX, NOVA SCOTIA--(Marketwire - April 10, 2012) - SEAMARK Asset Management Ltd. ("SEAMARK") is pleased to announce that it has successfully completed the previously announced transaction with LeeSide Capital Management Inc. ("LeeSide") (www.leesidecapital.com). SEAMARK has acquired LeeSide's assets under management and the three founders of LeeSide, Robert (Bob) McKim, George Loughery and Donald Wishart, have rejoined SEAMARK as senior officers where they collectively spent nearly 40 years building the SEAMARK business. SEAMARK is the institutional and high net worth operating subsidiary of Matrix Asset Management Inc. (TSX:MTA) ("Matrix"), a diversified Canadian asset management company (www.matrixasset.ca).

"Together, SEAMARK's existing personnel and the LeeSide founders will provide clients with a unique investment team with a proven strategy," states David Levi, President and CEO of Matrix and SEAMARK. "We are deeply committed to our existing clients, and to re-building our institutional business with the LeeSide founders at the helm."

In exchange for the transfer of LeeSide's assets under management to SEAMARK, SEAMARK will pay LeeSide on April 10, 2014, 0.8% of the value of the transferred assets under management retained as at December 31, 2012. SEAMARK has also issued LeeSide 300 Class A Non-Voting Participating shares in the capital of SEAMARK that provide LeeSide with a non-voting equity interest in Matrix's institutional and high net worth operating division, the value of which will be up to 35% of the value of new business generated within this division after closing. The remaining equity interest will reside with Matrix. All necessary regulatory and shareholder approvals for the transaction have been obtained.

"Now that it is official, we are looking forward to integrating our operations, and providing top-notch investment management to all of our clients," says Bob McKim, CFA, founder and CEO at LeeSide and Chief Investment Officer at SEAMARK. "We are delighted with the reception by LeeSide and SEAMARK clients, by the SEAMARK staff, and by the pension consultant community to our transaction. This is an important first step in turning the corner for SEAMARK."

About Matrix

Matrix Asset Management (TSX:MTA) is a diversified asset and wealth management company with approximately $1.6 billion in assets under management and offices across Canada. Matrix's mission is to provide a diverse array of investment choices and the best possible investment management service to Canadian investors and institutions. Matrix delivers its services through three main operating subsidiaries serving institutional, high net worth and retail investors.

About SEAMARK

SEAMARK provides investment management services, with a focus on preserving and enhancing clients' assets over the long-term. SEAMARK's services have been benefiting clients for almost 30 years. Since its inception in 1982, experienced and accessible investment professionals have followed a team-based process that consistently applies clearly articulated investment principles to meet each client's objectives. SEAMARK is the institutional and high net worth portfolio management arm of Matrix, a publicly traded, diversified asset management company.

SEAMARK offers its services to clients across Canada including;

• Pension funds requiring an investment manager able to exceed their investment objectives within their risk parameters.
• Endowments and Foundations seeking an investment manager who understands the challenges they face.
• Group retirement plan sponsors whose investment needs are met through a complete family of pooled funds.
• Mutual funds, bringing the benefits of SEAMARK's long-term institutional investment approach to individual retail investors.
• High net worth private investors, including those participating in the managed portfolio advisory programs (wrap programs) of many of Canada's top financial institutions.

To view a photo of Robert McKim (LeeSide) and David Levi (SEAMARK) click on: http://media3.marketwire.com/docs/mta.jpg