Toronto, ON (May 8, 2009) – GMP Capital Trust (TSX: GMP.UN) (“Fund”) is pleased to
announce that its unitholders overwhelmingly approved the plan of arrangement to convert the
Fund into GMP Capital Inc., a corporation, at today’s annual and special meeting. Unitholders
also approved the creation of a new common share option plan as well as the optional exchange
of Fund options outlined in our Management Information Circular.