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May 7, 2010 - GMP Capital Inc. Reports Q1/10 Results

Toronto, ON. (May 7, 2010) – GMP Capital Inc. (“GMP”) (TSX: GMP) today reported revenue of $82.6 million in first quarter 2010, representing an increase of 23% compared with the same period a year ago. A net loss of $62.4 million ($0.89 per basic share) was recorded in first quarter 2010 compared with net income of $7.1 million in first quarter 2009. First quarter results were impacted by $80.5 million ($76.1 million after-tax) in non-cash impairment charges, described below, relating to goodwill and intangible assets in the EdgeStone reporting unit. Excluding these impairment charges, adjusted net income1 was $13.6 million and adjusted earnings per share1 was $0.19 in first quarter 2010.

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