VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 3, 2013) - Matrix Asset Management Inc. (TSX:MTA) (the "Company" or "Matrix") previously reported that the Toronto Stock Exchange ("TSX") is reviewing the eligibility of the Common shares of the Company with respect to continued listing on the TSX.

Matrix announced today that it believes it does not meet the TSX requirements for continued listing. Accordingly, Matrix intends to apply for alternative listing arrangements and voluntarily delist from the TSX. Matrix will seek to avoid or minimize any time gap between the TSX delisting and obtaining an alternative listing. There can be no assurance that an alternative listing will be achieved.

The delisting affects only Matrix Common shares and does not affect any of the funds managed by subsidiaries of Matrix.

Forward-Looking Statements

Certain statements in this press release are forward-looking statements based on beliefs and assumptions of the Company and not on historical fact. These statements include statements regarding the Matrix's ability to secure an alternative listing of its Common shares that are being delisted from the TSX. Readers are cautioned against placing undue reliance on forward-looking statements and that such statements may not be appropriate for other purposes. Forward-looking statements are based upon beliefs and assumptions of management applied in drawing a conclusion about future events, including beliefs and assumptions with respect to Matrix's ability to comply with TSX listing requirements or achieve a listing for its Common shares on an alternative exchange. While management considers these beliefs and assumptions to be reasonable based on information currently available, these statements are subject to numerous risks and uncertainties and no assurance can be given that such beliefs and assumptions will prove to be correct. Accordingly, actual results may differ significantly from those expressed or implied by forward-looking statements due to many factors including Matrix's ability to maintain a stock exchange listing and other risks and uncertainties listed under "Risk Factors" in the MD&A for the quarter ended September 30, 2013 and in Matrix's Annual Information Form dated March 30, 2013, which are available on SEDAR. Many of these risks are beyond the control of Matrix. Other than as specifically required by law, the Company undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date on which such statements are made, or to reflect new information, future unanticipated events or results or other factors.

Contact Information:

Matrix Asset Management Inc.
David Levi
President & CEO
(604) 895-7274 and (416) 934-7700