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Director/PDMR Shareholding

26th May 2011 12:41

CANACCORD FINANCIAL INC. DISCLOSES DIRECTORS' DEALINGS

TORONTO, May 26, 2011 - Canaccord Financial Inc. ("CF" or the "Company") announces that the following restricted share units (RSUs) were granted on May 19, 2011, in lieu of cash compensation, under the Company's Long Term Incentive Plan (LTIP) to the following directors:

* 82,094 RSUs to Paul Reynolds * 37,797 RSUs to David Kassie * 49,060 RSUs to Mark Maybank * 11,214 RSUs to Philip Evershed * 31,793 RSUs to Matthew Gaasenbeek

Under the LTIP, compensation to participating employees is deferred and grants of RSUs, which vest over three years, are made. Participating employees receive RSUs as a component of their total compensation rather than pay-outs entirely in the form of cash payments.

In summary, the holdings related to Messrs. Reynolds, Kassie, Maybank, Evershed and Gaasenbeek are as follows:

Shares RSUs Total Total as a % owned RSUs held granted on RSUs held (common of total CF Director (excluding before May 19, after shares + issued RSUs and grant 2011 grant RSUs + common options) options) shares Paul D. 906,952 196,119 82,094 278,213 1,302,483 1.57% Reynolds David Kassie 3,271,660 -- 37,797 37,797 3,309,457 3.98% Mark Maybank 761,756 173,227 49,060 222,287 1,101,361 1.32%

Philip Evershed 1,497,855 -- 11,214 11,214 1,509,069 1.81%

Matthew 175,332 151,598 31,793 183,391 476,041 0.57% Gaasenbeek

The LTIP is an initiative by Canaccord that was announced on June 7, 2007, and approved at the Company's annual general meeting on August 2, 2007.

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 46 offices worldwide, including 32 Wealth Management offices located across Canada. Canaccord Genuity, the international capital markets division, operates in Canada, the U.S., the U.K., China 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 American media:Scott DavidsonManaging Director, Global Head of Marketing & CommunicationsPhone: 416-869-3875Email: [email protected] relations inquiries:Jamie KokoskaManager, Investor Relations & CommunicationsPhone: 416-869-3891Email: [email protected] media:Bobby Morse or Ben RomneyBuchanan Communications (London)Phone: +44 (0) 207 466 5000Email: [email protected] Adviser and Joint Broker:Marc Milmo or Carl HolmesCharles Stanley SecuritiesPhone: +44 020 7149 6764Email: [email protected] Broker:Oliver Hearsey or Nick TriggsKeefe, Bruyette & Woods LimitedPhone: +44 (0) 20 7663 5400Email: [email protected]

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