GMP Securities, LLC In The News

MTR Securities is pleased to announce its acquisition by GMP Capital

For Immediate Release

April 12, 2011

To Our Valued Clients,

Miller Tabak Roberts Securities, LLC (“MTR”) announced last week that it has signed an agreement to be acquired by Toronto-based GMP Capital Inc. (“GMP”), Canada’s leading independent investment dealer. MTR is pleased with this transaction and the expanded investment opportunities it will bring to you - our valued clients. MTR and GMP are united by cultural similarities, a common business philosophy for exceptional client service and complementary core strengths. The primary catalysts for the transaction are as follows:

• GMP’s historical focus on equity sales, trading and research complements MTR’s focus on fixed income sales, trading and research. Both firms focus solely on institutional investment firms in North America, Europe, South America and Asia.
   
• GMP’s investment banking department is highly regarded both in Canada and within its target industry verticals in North America. Currently, this business generates and underwrites numerous equity offerings. The combination of GMP and MTR will allow the investment banking business to expand its product offering and underwrite fixed income product (primarily high yield, convertible debt and other fixed income product) that will be attractive to MTR’s global institutional customer base. GMP has developed deep corporate relationships with securities-issuers which will complement MTR’s deep sell-side relationships with fixed income investment managers.
   
• GMP’s research department publishes research on 297 companies and 10 industries. The combined GMP/MTR research departments will publish research on 630 companies and 31 industries.
   
• The combination with GMP will greatly increase and improve MTR’s capital position which is currently healthy and expanding. GMP’s significantly larger balance sheet and over $1.2 billion in publicly-traded equity capitalization provides MTR a stronger financial position for continued growth.

These collective factors make this transaction compelling for our clients who will continue to experience first-class sales coverage, trading execution and corporate research, and should expect to see in the near-term broader research coverage and proprietary securities underwriting. All of our employees share in the excitement of this transaction.

We are extremely proud of the successful fixed income boutique we have built together, and at the core of that success are our deep client relationships. We believe this transaction will enable our professionals to continue providing you with the exceptional service to which you are accustomed, providing you with a broadened product offering to advance your interests while delivering access to the leading capabilities of GMP. We are grateful for the confidence and trust you continue to place in MTR.

About GMP Capital Inc.

GMP Capital Inc. is a leading, publicly-traded independent investment dealer in Canada providing a wide-range of products and services to a diversified client base that includes corporate, institutional and high-net-worth clients in three integrated business segments: Capital Markets, Wealth Management and Alternative Investments. Through offices located across Canada and in London, England, GMP specializes in the mid-market resource sector. GMP has a strong track record of performance and a proven business model with deep entrepreneurial and independent roots. In 2010, GMP maintained a leadership position in the Canadian capital markets ranking first in dollar value of common equity underwriting transactions completed in Canada, for which GMP was lead or co-lead; ranking first in dollar value of M&A transactions announced in the mid-market in Canada; and ranking second for total equity block trading volumes on the Toronto Stock Exchange and TSX Venture Exchanges. In addition, the Financial Times/MergerMarket named GMP Securities L.P. (a subsidiary of GMP) “Mid-Market Financial Advisor of the Year in Canada” in 2010. Over the last three years, GMP has also built a successful European business, significantly expanding the distribution of Canadian securities to a wider European institutional client base.

Please feel free to contact Robert Schoenthal at 212-867-7499 or Joel Miller at 212-867-5546 should you have any questions or would like more information.

Best Regards,

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