Guardian Capital Group Limited Announces First Quarter 2008 Operating Results

Guardian Capital Group Limited (TSX:GCG)(TSX:GCG.A) - 



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For the three months ended March 31
($ in thousands, except per share amounts)                   2008      2007
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Revenues, net of commissions paid to advisors           $  17,867 $  17,893

Net earnings                                                3,655     4,501

Cash flow from operations, before change in 
 non-cash working capital                                   3,536     4,728

Per Share
Basic earnings                                            $  0.09   $  0.11
Diluted earnings                                             0.09      0.11

Basic cash flow from operations, before change in
 non-cash working capital                                 $  0.09   $  0.11
Diluted cash flow from operations, before change in
 non-cash working capital                                    0.09      0.11



- Net earnings for the quarter were $3.7 million compared to $4.5 million for
the first quarter of 2007.


- Assets under management were $16.5 billion as at March 31, 2008, compared to
$17.4 billion as at March 31, 2007.


- Assets under administration were $5.7 billion as at March 31, 2008, compared
to $5.5 billion as at March 31, 2007.


- Cash flow from operations for the quarter was $3.5 million, compared to $4.7
million in 2007.


The fair value of the Company's holdings of securities as at March 31, 2008 was
$326.9 million or $8.28 per share, diluted.


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.

Guardian Capital (TSX:GCG)
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