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CANACCORD FINANCIAL INC. DISCLOSES DIRECTOR’S DEALINGS

28th May 2010 07:00

CANACCORD FINANCIAL INC.DISCLOSES DIRECTOR'S DEALINGSPurchase of Canaccord shares

VANCOUVER, May 28, 2010 - Canaccord Financial Inc. was notified on May 26, 2010, that Paul Reynolds, President and CEO of Canaccord Financial Inc. and a director of the company, purchased on May 26, 2010, through the facilities of the Toronto Stock Exchange, 20,000 common shares of the company at an average price of C$8.30 per share. As a result, Mr. Reynolds now holds 831,203 common shares in the company, representing 1.01% of the common shares issued and outstanding.

ABOUT CANACCORD FINANCIAL INC.:

Through its principal subsidiaries, Canaccord Financial Inc. is a leading independent, full-service financial services firm, with operations in two principal segments of the securities industry: wealth management and global capital markets. Since its establishment in 1950, Canaccord has been driven by an unwavering commitment to building lasting client relationships. We achieve this by generating value for our individual, institutional and corporate clients through comprehensive investment solutions, brokerage services and investment banking services. Canaccord has 38 offices worldwide, including 30 Wealth Management offices located across Canada. Canaccord Genuity, the international capital markets division, operates in the U.S., U.K., Canada and Barbados.

Canaccord Financial Inc. is publicly traded under the symbol CF on the TSX and the symbol CF. on AIM, a market operated by the London Stock Exchange.

FOR FURTHER INFORMATION CONTACT:

North America Media:Scott Davidson

Managing Director, Global Head of Marketing & Communications

Phone: 416-869-3875, email: [email protected]

For investor relations inquiries contact:

Joy Fenney Vice President, Investor Relations & Communications Phone: 416-869-3515, email: [email protected]

London Media:Bobby Morse or Ben Willey

Buchanan Communications (London)

Phone: +44 (0) 207 466 5000, email: [email protected]

Nominated Adviser and Broker:Jonny Franklin-AdamsFox-Pitt, Kelton Limited

Phone: +44 020 3037 5231, email: [email protected]

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