Guardian Capital Group Limited Completes Acquisition of Emerging Markets Equity Firm, Zephyr Management U.K. Limited

Guardian Capital Group Limited ("Guardian") (TSX:GCG)(TSX:GCG.A) announced today
that it has completed the acquisition of London, UK-based Zephyr Management U.K.
Limited ("Zephyr"). The acquisition adds emerging markets equity investment
capabilities and provides Guardian an international platform in a key global
financial centre to expand its asset management business. 


The Zephyr investment team combined has over 60 years of emerging markets equity
experience and will continue to be led by Steve Bates, who has been appointed
Managing Director, Head of Emerging Markets Equity. 


George Mavroudis, President and CEO of Guardian said: "Despite the recent
economic challenges in developing markets, we believe emerging market equities
are a core component for investors' strategic asset allocation decisions. The
overall investment thesis in emerging equity markets is more compelling now than
at any point in the last number of years due to the recent multi-year low
valuations for several quality companies operating in those markets. With the
addition of Steve and his team, Guardian can offer its clients an opportunity to
participate in the long-term dynamic and diversified developing economies, by
investing in a high-quality strategy with a long proven track record of
success." 


The integration of the Zephyr emerging market strategies will add approximately
$100 million to the assets under management of Guardian's investment management
subsidiaries. Guardian is acquiring Zephyr Management U.K. Limited 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.


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 December 31, 2013, Guardian had assets under management of $22.2 billion
and assets under administration were $11.6 billion.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Guardian Capital Group Limited
George Mavroudis
President & Chief Executive Officer
[phone]


Guardian Capital Group Limited
Vern Christensen
Senior Vice-President and Secretary
[phone]