Guardian Capital Group Announces Passing of Chairman of the Board James W. McCutcheon

Guardian Capital Group Limited (Guardian) (TSX:GCG)(TSX:GCG.A) announces the
sudden passing of its Chairman of the Board, James W. McCutcheon, on the morning
of Monday, October 17th, 2011.


"During his fourteen years on the Guardian board of directors, Jim served with
diligence and extraordinary competence", said Guardian President and Chief
Executive Officer George Mavroudis, "first as a board member and committee
member, and later as the company's Lead Director and ultimately its Chairman of
the Board. Among his many other contributions, he was a valued contributor to
the development and maturity of Guardian's corporate governance structure. His
wise counsel, his persuasive intellect, and his remarkable sense of humour, will
be sadly missed."


About Guardian Capital Group Limited

Guardian is a diversified financial services company founded in 1962. Guardian
provides institutional and private wealth investment management services;
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.