Matrix Announces Proposed Fund Mergers

TORONTO, ONTARIO--(Marketwire - April 13, 2011) - Matrix Funds Management* ("Matrix Management"), the manager of the Matrix Mutual Funds,announced the following proposed mergers designed to meet streamlining initiatives for the Matrix Mutual Funds offerings.

In each merger, the assets of the terminating fund will be exchanged in return for units of the respective continuing fund. Each investor will receive their proportionate numbers of units of the equivalent net asset value in the continuing fund.

The proposed mergers are subject to the receipt of all necessary unitholder and regulatory approvals as well as the approval of the Independent Review Committee. Details of the proposed mergers will be set out in a notice of meeting and information circular that will be sent to unitholders in May in advance of unitholder meetings to be held in Toronto on or about June 8, 2011. Subject to obtaining all necessary approvals, the mergers will take effect prior to June 30, 2011. There is no guarantee that the mergers will be approved or proceed at all.

About Matrix Funds Management*

Matrix Funds Management (a division of GrowthWorks Capital Ltd.) is the manager of the Matrix Funds and is a subsidiary of Matrix Asset Management Inc. Matrix provides diversified asset and wealth management for both individuals and institutional investors. Please visit www.matrixfunds.ca for more information.

Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.