Matrix and Webb Asset Management Receive Approval for Fund Mergers

TORONTO, ONTARIO--(Marketwire - Feb. 1, 2013) - Matrix Funds Management (a division of Growth Works Capital Ltd., and referred to herein as "Matrix"), the trustee and manager of Matrix Monthly Pay Fund (the "Continuing Fund"), and Webb Asset Management Canada, Inc., the trustee and manager of Webb Enhanced Growth Fund and Webb Enhanced Income Fund (the "Webb Funds"), are proud to announce today that they have received approvals from the unitholders of the Webb Funds and from securities regulatory authorities to complete the previously announced transaction whereby the assets of the Webb Funds will be transferred to the Continuing Fund in exchange for units of the Continuing Fund, and unitholders of the Webb Funds will become unitholders of the Continuing Fund. The transaction will close on or before February 14, 2013 (the "Closing Date").

On the close of business on the Closing Date, the Continuing Fund will acquire the investment portfolio and other assets of the Webb Funds in exchange for Series A units and Series F units of the Continuing Fund having an aggregate series net asset value equal to the value of the assets acquired by the Continuing Fund from the Webb Funds on a dollar-for-dollar and series-by-series basis Immediately thereafter, units of the Continuing Fund received by the Webb Funds will be distributed to unitholders of the Webb Funds in exchange for their units in the Webb Funds on a dollar-for-dollar and series-by-series basis. The Webb Funds will be wound up as soon as reasonably possible and in any case within 60 days after the Closing Date.

Matrix Funds Management (a division of Growth Works Capital Ltd.) is the manager of the Matrix Funds and a subsidiary of Matrix Asset Management Inc. (TSX:MTA). Matrix provides diversified asset and wealth management for both individuals and institutional investors.