CORRECTION FROM SOURCE: Guardian Capital Tactical Yield Fund files Preliminary Prospectus

The following corrects and replaces the release sent at 1:19 pm ET on October 1,
2009. The phone number for Michael Christodoulou should be (416) 350-3121. The
complete and corrected release follows.


Guardian Capital Group Limited (TSX:GCG)(TSX:GCG.A) and Guardian Capital
Tactical Yield Fund - 


Guardian Capital Management LP ("Guardian Capital") and Guardian Capital LP
("Guardian") are pleased to announce that a preliminary prospectus for the
Guardian Capital Tactical Yield Fund (the "Fund") has been filed with the
securities regulatory authorities in each of the provinces and territories of
Canada.


The Fund's investment objectives are:

(i) to maximize risk-adjusted total returns for investors, consisting of both
cash distributions and capital appreciation; and


(ii) to provide investors with monthly cash distributions, initially targeted to
be 5.5% per annum on the original offering price of $10.00 per unit.


The Fund will seek to achieve its investment objectives by investing in an
actively managed, diversified portfolio comprised primarily of Canadian and
global dividend-paying growth equities that provide a stream of current income
and which Guardian believes have the potential for earnings and dividend growth
and for capital gains, income-oriented equities, including preferred shares and
REITs, and fixed-income securities, including high yield debt and investment
grade debt.


Guardian Capital, as the trustee and manager of the Fund, will provide or
arrange for all of the administrative, management and investment advisory
services required by the Fund. Guardian Capital's affiliate, Guardian, will act
as the portfolio adviser to the Fund. Both Guardian and Guardian Capital are
subsidiaries of Guardian Capital Group Limited, a financial services company
that has been listed on the Toronto Stock Exchange since 1969. Guardian Capital
Group has three major operating business segments, including providing
investment management services, providing financial advisory services relating
to the retail distribution of mutual funds, other investments and life insurance
and managing its own investment capital.


Guardian Capital Group intends to invest at least $1,000,000 in the Fund.

The syndicate of agents is co-led by CIBC World Markets Inc. and RBC Capital
Markets, and includes BMO Capital Markets, Scotia Capital Inc., National Bank
Financial Inc., Canaccord Capital Corporation, Dundee Securities Corporation,
HSBC Securities (Canada) Inc., Raymond James Ltd., Blackmont Capital Inc., GMP
Securities L.P., Manulife Securities Incorporated, Wellington West Capital
Markets Inc., MGI Securities Inc. and Worldsource Securities Inc.


Guardian Capital LP

Guardian and its predecessors have been operating in the investment management
business since 1962. As at June 30, 2009, it managed $12.3 billion in assets for
a variety of institutional clients, including pension funds, endowments,
closed-end funds, third-party mutual funds, pooled funds and wrap programs.


A preliminary prospectus dated September 30, 2009 containing important
information relating to these securities has been filed with securities
commissions or similar authorities in all of the provinces and territories of
Canada. The preliminary prospectus is still subject to completion or amendment.
Copies of the preliminary prospectus may be obtained from any of the Agents.
There will not be any sale or any acceptance of an offer to buy the securities
until a receipt for the final prospectus has been issued.


Certain statements included in this news release constitute forward-looking
statements, including, but not limited to, those identified by the expressions
"expect", "intend", "will" and similar expressions to the extent they relate to
the Fund. The forward-looking statements are not historical facts but reflect
Guardian Capital's current expectations regarding future results or events.
These forward-looking statements are subject to a number of risks and
uncertainties that could cause actual results or events to differ materially
from current expectations. Although Guardian Capital believes that the
assumptions inherent in the forward-looking statements are reasonable,
forward-looking statements are not guarantees of future performance and,
accordingly, readers are cautioned not to place undue reliance on such
statements due to the inherent uncertainty therein. Guardian Capital undertakes
no obligation to update publicly or otherwise revise any forward-looking
statement or information whether as a result of new information, future events
or other such factors which affect this information, except as required by law.


For media inquiries or additional information, please contact Michael
Christodoulou at (416) 350-3121, or your financial advisor.
Guardian Capital (TSX:GCG)
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