Guardian Capital Group Limited Operating Results for the Three Months Ended March 31, 2010

Guardian Capital Group Limited -

We present the Company's operating results for the three months ended March 31,
2010.




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For the three months ended March 31                                         
($ in thousands, except per share amounts)               2010           2009
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Gross revenues, net of commissions paid to                                  
 advisors                                       $      17,023  $      13,385
Net earnings                                            3,964          1,561
Cash flow from operations before change in                                  
 non-cash working capital                               3,821          2,744
Per Share                                                                   
Basic net earnings                              $        0.12  $        0.04
Diluted net earnings                                     0.12           0.04
                                                                            
Basic cash flow from operations before change                               
 in non-cash working capital                    $        0.12  $        0.08
Diluted cash flow from operations before                                    
 change in non-cash working capital                      0.11           0.08

--  Net earnings for the quarter were $4.0 million, or $0.12 per share,
    diluted, compared to $1.6 million, or $0.04 per share, diluted, for the
    first quarter of 2009. 
--  Assets under management were $14.5 billion as at March 31, 2010,
    compared to $11.1 billion as at March 31, 2009. 
--  Assets under administration were $7.2 billion as at March 31, 2010,
    compared to $5.9 billion as at March 31, 2009. 
--  Cash flow from operations for the quarter was $3.8 million, compared to
    $2.7 million in 2009. 
--  The fair value of the Company's holdings of securities as at March 31,
    2010 was $390.0 million or $11.64 per share, diluted. 



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