Matrix Asset Management Inc.
TSX : MTA

Matrix Asset Management Inc.

May 12, 2011 12:42 ET

Matrix Asset Management Reports Voting Results of its Annual and Special Meeting of Shareholders

HALIFAX, NOVA SCOTIA--(Marketwire - May 12, 2011) - Matrix Asset Management Inc. (the "Company" or "Matrix") (TSX:MTA) is pleased to announce that its shareholders have approved all of the resolutions presented at its annual and special meeting of shareholders held on May 11, 2011 (the "Meeting"), including the election of the Company's proposed nominees to the Board of Directors of Matrix, the approval of the restricted share plan adopted by the Board of Directors of the Company as well as the approval to amend the articles of the Company to consolidate the Company's common shares (the "Common Shares") on the basis of one (1) new Common Share for each five (5) outstanding Common Shares on the date of the consolidation.

The share consolidation is only expected to be implemented once the Board believes that sufficient trading volume would exist post-implementation. The Company will provide shareholders with at least 60 days advance notice of the Board`s decision to implement the consolidation.

About Matrix (www.matrixasset.ca)

Matrix (TSX:MTA) is a diversified asset and wealth management company with approximately $2.4 billion in assets under management and 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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