4 July 2006
GMP Capital Trust Completes EdgeStone Acquisition

Toronto, ON. (July 4, 2006) - GMP Capital Trust ("GMP" or the "Fund") is pleased to announce the completion of the acquisition of EdgeStone Capital Partners, L.P. ("EdgeStone"), the manager of the EdgeStone group of funds, together with a portion of the carried interest entitlements in EdgeStone's funds, pursuant to the binding agreement entered into and announced on June 16, 2006. EdgeStone is one of Canada's leading private equity firms, and has managed in excess of $2 billion of private capital on behalf of institutional and high-net-worth clients.

Under the agreement, Griffiths McBurney L.P., a subsidiary entity of GMP, purchased all of the outstanding equity interests in EdgeStone and, indirectly, each of its subsidiary entities and partnerships, including the general partners of EdgeStone's funds.

"We are pleased to close this important transaction and we look forward to working with the principals at EdgeStone to help them further build their business and drive continued value for the limited partners in EdgeStone's funds and portfolio companies." said Kevin Sullivan, Chief Executive Officer, GMP.

ABOUT GMP CAPITAL TRUST

The GMP group carries on business through four principal entities: GMP Securities L.P., Griffiths McBurney Corp., GMP Private Client L.P. and EdgeStone Capital Partners, 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 gmpsecurities.com. Griffiths McBurney Corp. services institutional clients in the United States. 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 gmpprivateclient.com. 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 edgestone.com. GMP Capital Trust is listed on the Toronto Stock Exchange under the symbol GMP.UN. The website is gmpcapitaltrust.com. The GMP group has offices in Toronto, Calgary, Montreal, Vancouver and Geneva, Switzerland.

For further information: please contact:
GMP Capital Trust, Investor Relations
145 King Street West, Suite 1100
Toronto, Ontario, M5H 1J8
Tel: (416) 367-8600; Fax: (416) 943-6143
investorrelations@gmpcapitaltrust.com