Matrix Funds Management Announces Proposed Change of Manager

TORONTO, ONTARIO--(Marketwired - May 27, 2013) - Growth Works Capital Ltd., through its Matrix Funds Management operating division ("Matrix Funds Management") announced the terms of a transaction agreement between Matrix Asset Management Inc., Matrix Funds Management's parent company, and Marquest Asset Management Inc. ("Marquest") under which management of the Matrix Group of Mutual Funds would be transferred from Matrix Funds Management to Marquest. Closing of the transaction, and the transfer of management of the Matrix Group of Mutual Funds, is subject to customary closing conditions, including obtaining necessary shareholder, unitholder, stock exchange and regulatory approvals in addition to the Independent Review Committee approval for the Matrix Group of Mutual Funds. It is unknown at this time if these conditions will be satisfied or waived.

Matrix Group of Mutual Funds are offered by Growth Works Capital Ltd. (through its operating division, of Matrix Funds Management) and distributed through authorized dealers. GrowthWorks Capital Ltd. is a subsidiary of Matrix Asset Management Inc. (TSX:MTA). Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the Fund prospectus carefully before investing. Mutual funds, including distributions and target returns, are not guaranteed, their values change frequently and past performance may not be repeated. Please visit www.matrixfunds.ca for more information.