SEAMARK Asset Management Ltd. Wrap Program Partners Complete Reviews

    HALIFAX, April 28 /CNW/ - SEAMARK Asset Management Ltd. has been advised
that its wrap program partners have completed reviews of SEAMARK's investment
services. The reviews were triggered by the departure of one wrap program
partner earlier in April. As a result of the reviews, only one additional
partner has indicated that it will discontinue its use of SEAMARK's investment
services, effective June 30, 2009. The two departing programs combined
represent approximately $0.4 billion of SEAMARK's $2.4 billion in assets under
management as of March 31, 2009.
    Consistent with normal industry practice, it is expected that wrap
program partners will continue to assess their on-going use of SEAMARK's
services, but no additional program departures are anticipated at this time.
    SEAMARK's first quarter 2009 financial results and outlook are scheduled
for release on April 30, 2009. These results will be discussed during
SEAMARK's annual general shareholders meeting to be held that same day,
beginning at 2 p.m. Atlantic time (1 p.m. Eastern). The shareholders meeting
will be web-cast live by the CNW Group. A link to the meeting will be
available through the shareholder information section of:

    SEAMARK (TSX:SM) provides investment management services across Canada to
institutional clients, mutual funds, private clients, and the managed
portfolio advisory programs (wrap programs) of many of Canada's leading
investment dealers.
    %SEDAR: 00016315E

For further information:

For further information: Jill McKim, Corporate Secretary, SEAMARK Asset
Management Ltd., (902) 423-9367

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