GCG Guardian Capital Group Ltd

Guardian Capital Group Limited ("Guardian") (TSX:GCG)(TSX:GCG.A) announced today
that it has reached agreement to acquire a specialist boutique Emerging Market
Equity investment firm in London, UK, providing Guardian an international
platform in a key global financial centre, to expand the firm's asset management
business.


Guardian has agreed to acquire London, UK based Zephyr Management (UK) Ltd.,
manager of the Zephyr Aurora Fund, an emerging market equity fund led by the
experienced emerging market equity portfolio management team of Steve Bates and
Clive Lloyd. Steve Bates, Portfolio Manager and Chief Investment Officer for the
Zephyr Aurora Fund, has led the Zephyr Management (UK) Ltd. investment
operations since 2002, following a successful career as Head of JP Morgan
Fleming Asset Management's Emerging Market activities which he established in
1990. 


"We are delighted to have Steve Bates and Clive Lloyd joining Guardian," said
George Mavroudis, Guardian President & Chief Executive Officer. "Steve and Clive
comprise one of the most accomplished emerging market equity portfolio
management teams in the industry. With the acquisition of Zephyr Management (UK)
Ltd., Guardian gains both great investment talent and an operating platform in a
key global financial centre."


"We are pleased to be joining Guardian, a firm with a strong investment
management culture and the financial strength to support the growth of the
Aurora Fund," said Mr. Bates. "Both Clive and I are excited by the prospect of
working with the backing of Guardian's resources and the impetus these will give
to our efforts to deliver best-in-class emerging market equity investment
management to our clients."


Guardian is acquiring Zephyr Management (UK) Ltd. from its parent company,
Zephyr Management, L.P., a global investment management firm headquartered in
New York, which focuses on emerging market private equity investments, as well
as wealth management through its Plimsoll Mark Capital division. 


The transaction is subject to customary conditions, including applicable
regulatory approvals, and is expected to close in first quarter, 2014. 


About Zephyr Management (UK) Ltd. 

Zephyr Management (UK) Ltd. was established in 2002 and actively manages
emerging market equity portfolios for wealthy individuals, family offices and
institutional clients. As at October 31, 2013, total assets under management are
approximately $111 million, which are managed primarily through a pooled
vehicle, Zephyr Aurora Master Fund, L.P. Zephyr Management (UK) Ltd. is
regulated by the Financial Conduct Authority in the United Kingdom.


About Guardian Capital Group Limited 

Guardian Capital Group Limited is a diversified financial services company
founded in 1962. Guardian provides investment management services to
institutional and high net worth clients; provides financial services to
international investors; and provides services to financial advisors in its
national mutual fund dealer, securities dealer, and insurance distribution
network. Its Common and Class A shares are listed on the Toronto Stock Exchange.
As at September 30, 2013, Guardian had assets under management of $21.2 billion
and assets under administration of $10.8 billion. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
George Mavroudis
President & Chief Executive Officer
Guardian Capital Group Limited
(416) 364-8341

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