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TORONTO, ONTARIO--(Marketwire - July 16, 2010) - Matrix Asset Management Inc. (TSX:MTA) is pleased to announce that effective July 26, 2010 we have an exclusive arrangement with Andrew Cook to sub-advise several of our Matrix funds.

Andrew has a stellar track record, an excellent reputation and close to twenty years of experience in the industry. He has worked in both brokerage and banking, thus acquiring an extensive background in equity research and credit analysis. Prior to forming his own firm, he served as a Vice President of Marquest Asset Management Inc. where he co-managed the Marquest Resource Fund. Marquest Resource Fund was ranked second out of 152 Resource Funds for 5-year returns as at June 30, 2010, as reported by GlobeFund.

Andrew will be sub-advising our Mavrix Explorer Fund and Mavrix Multi Series Fund - Explorer Series (to be renamed Matrix Explorer Fund and Matrix Explorer Fund – Corporate Class, respectively) and our Flow-Through Funds.

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.

Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. The following table provides standard performance data as at June 30, 2010 for Marquest Resource Fund, Mavrix Explorer Fund Class A and Mavrix Multi Series Fund - Explorer Series and the ranking for Marquest Resource Fund for each period. The indicated rates of return are the historical annual compounded total returns including changes in unit or share values and reinvestment of all distributions or dividends and does not take into account sales, redemption, distribution or optional charges or income taxes payable by any securityholder that would have reduced returns. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.

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