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December 19, 2008 - GMP Capital Trust Declares December 2008 Distribution

Toronto, ON. (December 19, 2008) – GMP Capital Trust (the “Fund”) (TSX: GMP.UN) announced today a monthly cash distribution of $0.05 per Fund unit for the month of December 2008 to be paid on January 20, 2009, to unitholders of record as of December 31, 2008. A cash distribution of $0.05 per Fund unit for the month of December 2008 to be paid on January 20, 2009, was also declared to holders of the Class B limited partner units of Griffiths McBurney L.P.

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December 9, 2008 - GMP Capital Trust Increases Preferred Security Unit Offering

Toronto, ON (December 9, 2008) – GMP Capital Trust (TSX: GMP.UN) (“GMP”) today announced that in response to excess demand for its preferred security units it has received approval to privately place an additional 1,538,462 preferred security units (the “Units”) at $6.50 per Unit, for gross proceeds of $10 million (the “Offering”). When combined with Units announced on December 8, 2008, GMP and GMP Preferred L.P., a newly-formed indirect subsidiary of GMP, have agreed to issue Units with an aggregate value of $40 million. Each Unit will consist of one $6.50 par value 10% cumulative perpetual non-voting preferred limited partnership unit of GMP Preferred L.P. and one warrant to purchase one fund unit of GMP at an exercise price of $6.50 prior to the fifth anniversary of closing. The additional Units were placed with a number of institutional and other accredited investors.

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December 8, 2008 - GMP Capital Trust Stengthens Capital Position

Toronto, ON (December 8, 2008) – GMP Capital Trust (TSX: GMP.UN) (“GMP”) today announced that it has agreed to privately place up to 4,615,400 preferred security units (the “Units”) at $6.50 per Unit, for gross proceeds of up to $30 million (the “Offering”). Each Unit will consist of one $6.50 par value 10% cumulative perpetual non-voting preferred limited partnership unit of GMP Preferred L.P., a newly-formed indirect subsidiary of GMP, and one warrant to purchase one fund unit of GMP (the “Fund Units”) at an exercise price of $6.50. The preferred limited partnership units will be entitled to receive a 10% cumulative perpetual preferred distribution in cash when declared by the general partner of GMP Preferred L.P. The warrants will be exercisable at the holder’s option at any time and from time to time, in whole or in part, for five years.

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