N@N

(1) EBITDA (defined by Matrix as earnings before interest, taxes, depreciation and amortization and other non-cash items) is a measure used by many investors to compare issuers on the basis of their ability to generate cash from operations. Management believes EBITDA is a useful supplemental measure of operating performance as it provides an indication as to cash available for working capital needs, capital expenditures and distributions.

(2) Non-recurring items are described in Matrix's Management's Discusssion & Analysis (see "Non-GAAP Measures" below).

(3) Management believes "Recurring EBITDA" is a useful supplemental measure of operating performance because it provides readers with greater insight into what the core or run-rate EBITDA generating capacity of the business may be by adjusting EBITDA for various non- recurring items. Without presentation of this measure, there can be a lack of transparency of the effect of non-recurring revenues or expenses on EBITDA.

(4) Management believes "Recurring income before taxes" is a useful supplemental measure of operating performance because it provides readers with greater insight into what the core or run-rate income before taxes generating capacity of the business may be by adjusting income before taxes for various non-recurring items. Without presentation of this measure, there can be a lack of transparency of the effect of non-recurring revenue or expenses on income before taxes.

Outlook

Over the past year, capital markets have rebounded significantly. Current expectations are for higher economic growth and further, but more modest, gains in most financial assets. Those expectations would present a favourable outlook for Matrix's asset management business. Growth in AUM through increased value of investment holdings is positive for net asset value based fee revenues.

Matrix will continue to seek to attract additional AUM through competing for new investment mandates and through positioning and re-positioning its investment fund offerings to meet the current needs of investors. Matrix also expects to realize additional operating efficiencies over the course of the year as it continues to integrate its newly formed diversified asset management platform. Management expects to achieve profitability during the year as these initiatives progress.

Matrix's first quarter 2010 financial statements and MD&A are available on the SEDAR website at [ www.sedar.com ], as are the financial statements of GrowthWorks Ltd. for the year ended December 31, 2009.

About Matrix ([ www.matrixasset.ca ])

Matrix (TSX:MTA) is a diversified asset and wealth management company with 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.

Forward-Looking Statements

Certain statements in this release are forward-looking statements based on beliefs, assumptions and expectations of Matrix and not on historical fact. These statements may include, without limitation, statements regarding the operations, business, financial condition, expected financial results and profitability, prospects, priorities, goals, strategies and estimates and outlook of Matrix for the current fiscal year and subsequent periods. Forward-looking statements include statements that are predictive in nature or depend upon or refer to future events or conditions.

Forward-looking statements are based upon beliefs and assumptions, including with respect to levels of AUM and expenses and related assumptions as to levels of portfolio returns and managed fund sales and redemptions, beliefs and assumptions concerning economic and market conditions and the impact of such conditions and other factors on Matrix's AUM, the continuation of portfolio and fund management and advisory engagements, the extent and effectiveness of cost-saving measures, tax rates and laws and the absence of extraordinary or one-time expenses not currently known to management. While management considers these beliefs and assumptions to be reasonable based on information currently available to it, they are subject to numerous risks and uncertainties and no assurance can be given that such beliefs and assumptions will prove to be correct. Accordingly, actual results may differ significantly from those expressed or implied by forward-looking statements due to many factors including, but not limited to, risks associated with institutional, mutual fund and venture capital fund management sectors generally, market, economic, political and other risks affecting portfolio performance, interest and foreign exchange rates, managed fund sales and redemptions and in turn Matrix's AUM, changes to regulatory requirements, accounting and reporting policies (including the adoption of IFRS) and tax laws, Matrix's ability to effectively respond to competition and technological change and recruit and retain key management personnel, uninsured losses, accessing needed capital resources from internal and external sources and Matrix's ability to successfully integrate acquired operations and implement cost savings measures and growth strategies. Many of these risks are beyond the control of Matrix.

Readers are cautioned to consider these and other risks, uncertainties and potential events carefully and not place undue reliance on forward-looking statements. Other than as specifically required by law, Matrix undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date on which such statements are made, or to reflect the occurrence of unanticipated events, whether as a result of new information, future events or results or otherwise.

Non-GAAP Measures

EBITDA, recurring EBITDA and recurring income before taxes are not measures recognized under Canadian generally accepted accounting principles ("GAAP").

However, management of Matrix believes that many of its shareholders, creditors, other stakeholders and investment analysts prefer to have these measures included as reported measures of operating performance, a proxy for cash flow, and to facilitate valuation analysis. These non-GAAP measures do not have any standard meanings prescribed by GAAP and therefore may not be comparable to similar measures presented by other issuers. Readers are cautioned that these non-GAAP measures are not alternatives to measures determined in accordance with GAAP and should not, on their own, be construed as indicators of Matrix's performance, cash flow or profitability. These Non-GAAP measures should be read in conjunction with the financial statements of GrowthWorks and Matrix posted on SEDAR.com. For additional information regarding Matrix's use of non-GAAP measures, including reconciliations of these measures to the nearest GAAP measures, please refer to the

"Non-GAAP Financial Measures", "Reconciliation of Recurring Income before Taxes" and "Reconciliation of EBITDA and Recurring EBITDA" sections of its MD&A available on the SEDAR website at [ www.sedar.com ].