Matrix Announces Unitholder Approval of Fund Mergers and Change of Portfolio Advisor for Matrix Small Companies Fund

TORONTO, ONTARIO--(Marketwire - June 29, 2012) - Matrix Funds Management* ("Matrix Management"), the manager of the Matrix Mutual Funds, is pleased to announce that it has received all necessary unitholder approvals in connection with the following proposed mergers:

The mergers are 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 number of units of the equivalent net asset value in the continuing fund. The mergers will be effective June 29, 2012.

Matrix Management has also announced, that effective June 29, 2012, Matrix Management will act as portfolio advisor to Matrix Small Companies Fund. SEAMARK Asset Management Inc. ("SEAMARK"), our affiliate, had previously acted as portfolio advisor to this fund. This change is a result of integration measures arising from the recent return of Robert (Bob) McKim, George Loughery and Donald Wishart, to SEAMARK as part of SEAMARK's acquisition of Leeside Capital Management Inc.'s assets under management. Tim Lee, Chief Investment Officer, Venture Capital will assume the portfolio management responsibilities for Matrix Small Companies Fund.

About Matrix Funds Management*

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 Asset Management Inc. provides diversified asset and wealth management for both individuals and institutional investors. Please visit www.matrixfunds.ca for more information.

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