TORONTO, ONTARIO--(Marketwire - Jan. 19, 2012) - Matrix Asset Management Inc. ("Matrix") (TSX:MTA) announced today that it has filed a Notice of Intention to make a normal course issuer bid ("NCIB") whereby it may purchase through the facilities of the TSX up to 800,000 of its common shares, representing approximately 1.85% of its total issued and outstanding common shares of 43,209,203 as of today's date (which number excludes unreleased restricted common shares issued under Matrix's Restricted Share Plan). The NCIB is subject to acceptance by the Toronto Stock Exchange ("TSX").

Purchases under the NCIB may begin on January 24, 2012 and will end no later than January 23, 2013. Purchases under the NCIB are subject to TSX rules governing normal course issuer bids, including price and volume restrictions. Matrix's purchase of shares during any trading day will not exceed 1,965 common shares (representing 25% of the average daily trading volume of 7,861 common shares of Matrix over the past six calendar months), subject to larger block trades that may be completed once per calendar week. Purchases will be made at prevailing market prices under an "automatic share purchase plan" administered by a broker engaged by Matrix to make purchases under the NCIB. Under this plan, Matrix can preset purchase price parameters while not in a blackout period and the investment dealer engaged to administer the automatic share purchase plan may then purchase the common shares under the NCIB at any time, including when Matrix would otherwise be restricted from purchasing under corporate blackout periods. Shares purchased under the NCIB will be cancelled.

During the period from December 10, 2010 through December 9, 2011, Matrix purchased 10,000 common shares under a normal course issuer bid at a weighted average price of $0.7778 per share.

Matrix believes that trading prices of its common shares may from time to time significantly undervalue Matrix in light of its prospects and intrinsic value. Accordingly, Matrix believes the acquisition of common shares under the NCIB is an appropriate use of a portion of its available funds with the aim of enhancing shareholder value.

A director of the Company has indicated an intention to sell no more than 2,101 common shares during the course of the NCIB. The sale of the shares would be completed to cover tax liabilities from the vesting of deferred stock units granted under the issuer's Deferred Stock Unit Plan. The benefits to such director of selling or not selling common shares during the course of the NCIB are the same as the benefits to any other shareholder who sells or does not sell.

About Matrix (

Matrix (TSX:MTA) is a diversified asset and wealth management company with approximately $1.9 billion in assets under management and 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.

Contact Information:

Matrix Asset Management Inc.
Debbie Gray
Senior Vice President, National Sales and Marketing
(416) 934-7726 or 1-800 463 1652 x 7726