Guardian Capital Group Limited Announces 2007 Operating Results

TORONTO, ONTARIO (TSX: GCG.A) -


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For the period ended December 31              Three Months     Twelve Months
($ in thousands, except per share amounts)   2007     2006     2007     2006
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Net earnings                             $ 12,058 $ 10,073 $ 27,026 $ 23,376

Cash flow from operations, before
 change in non-cash working capital         4,314    4,956   17,820   17,260

Per Share
Basic earnings                           $   0.30 $   0.25 $   0.68 $   0.59
Diluted earnings                             0.30     0.25     0.68     0.58

Basic cash flow from operations, before
 change in non-cash working capital          0.11     0.13     0.45     0.44
Diluted cash flow from operations, before
 change in non-cash working capital          0.11     0.12     0.45     0.43

Assets under management were $16.9 billion as at December 31, 2007 compared to $17.3 billion as at December 31, 2006. Assets under administration were $5.9 billion as at December 31, 2007, compared to $5.3 billion as at December 31, 2006.

Net earnings for the year 2007 were $27.0 million or $0.68 per share, diluted, compared to $23.4 million or $0.58 per share, diluted, for 2006. Net earnings for the Fourth Quarter of 2007 include $6.6 million, or $0.16 per share, diluted, as a result of the decrease in future Federal income taxes enacted during the quarter. A similar adjustment of $3.3 million, or $0.08 per share, is included in net earnings for the Fourth Quarter of 2006.

Cash flow from operations before change in non-cash working capital for the year was $17.8 million, compared to $17.3 million for 2006.

The fair value of corporate holdings of securities as at December 31, 2007 was $380.4 million, or $9.65 per share, diluted.

The Board of Directors has declared an "Eligible" dividend of $0.15 per share, payable on March 17, 2008 to shareholders of record on March 11, 2008.

Guardian Capital Group Limited is a diversified financial services company founded in 1962. Guardian provides institutional and high net worth investment management services to 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.

Contacts: Guardian Capital Group Limited Vern Christensen (416) 947-4093 Guardian Capital Group Limited Sam K. Greiss (416) 947-3743

Guardian Capital (TSX:GCG)
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