GMP Capital Trust appoints new President

    TORONTO, July 7 /CNW/ - GMP Capital Trust (GMP) (TSX: GMP.UN) today
announced the appointment of Harris A. Fricker as the next President of GMP
Securities L.P. to succeed Thomas A. Budd who retired June 30, 2008. Mr.
Fricker will also continue in his existing roles as Vice Chairman and Head of
Investment Banking, GMP Securities and co-chairman of GMP Europe.
    "We are fortunate to have a deep and committed pool of talented
professionals at GMP from which to draw as we look to the future. The
selection of an internal candidate is a testament to GMP's commitment to
developing the next generation of leaders from our own ranks and ensures a
seamless transition for our clients," said Kevin Sullivan, Chief Executive
Officer. Commenting further on the appointment of Mr. Fricker, Mr. Sullivan
said, "Harris has the industry experience and an in-depth understanding of the
GMP culture and we are confident he will provide the necessary leadership to
GMP as we continue to execute our growth strategies."
    Prior to joining GMP in 2002, Mr. Fricker held senior roles at several
leading Canadian financial institutions. He has extensive experience in the
North American capital markets along with an entrepreneurial acumen,
co-founding an on-line investment management company. Commenting on his
appointment Mr. Fricker said, "I am excited about the opportunity to work
closely with Kevin Sullivan and the senior management team to strengthen and
build upon our position as a leading independent Canadian investment dealer
and to export our Canadian capital markets expertise to a wider global
audience. With experienced and highly capable staff already in place I am
confident we will continue GMP's growth momentum." Mr. Fricker's appointment
is effective immediately.
    GMP also announced that Dan Tsubouchi, Vice Chairman, Research, will
assume responsibility for leadership of its Calgary office and have oversight
of the operations of the Calgary office. Mr. Tsubouchi will also continue to
work closely with our clients in the oil and gas sector.


    GMP Capital Trust carries on business through the following principal
entities: GMP Securities L.P., Griffiths McBurney Corp., GMP Securities Europe
LLP, GMP Private Client L.P., EdgeStone Capital Partners, L.P. and GMP
Investment Management L.P. GMP Securities L.P. is a leading independent
Canadian investment dealer focused on investment banking and institutional
equities for corporate clients and institutional investors. GMP Securities
L.P. can be found on the web at Griffiths McBurney Corp.
services institutional clients in the United States while GMP Securities
Europe LLP provides investment banking and institutional equity services to
clients located in Europe. GMP Private Client L.P. is a full-service
investment firm focused on high-net-worth private investors that provides
wealth preservation, income and growth strategies delivered by seasoned
investment advisors. GMP Private Client L.P. can be found on the web at EdgeStone Capital Partners, L.P. is one of Canada's
leading private equity firms, providing capital, strategic direction and
business and financial advice to help promising mid-market and early stage
companies achieve their full potential. EdgeStone Capital Partners, L.P. can
be found on the web at GMP Investment Management L.P. provides
investment management services to both high-net-worth individuals and
institutional investors. Through it's recently launched GMP Diversified Alpha
Fund, GMP Investment Management L.P will seek to generate long-term
risk-adjusted investment returns through the execution of diversified
investment strategies. GMP Capital Trust is listed on the Toronto Stock
Exchange under the symbol GMP.UN. The Fund's website is located at The Fund has offices in Toronto, Calgary, Montreal,
Vancouver, Geneva, Switzerland and London, England.

For further information:

For further information: GMP Capital Trust, Rocco Colella, Director,
Investor Relations, 145 King Street West, Suite 300, Toronto, Ontario, M5H
1J8, Tel: (416) 941-0894, Fax: (416) 943-6175,,

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