TORONTO, July 25, 2013 /CNW/ – Stephen Smith today announced that on
July 24, 2013 he acquired indirectly ownership of 546,700 common shares
of Equitable Group Inc. (“Equitable Group“) through the facilities of the Toronto Stock Exchange at a purchase
price of $40.25 per common share. The common shares purchased represent
approximately 3.58% of the total number of issued and outstanding
common shares of Equitable Group.

As a result of this transaction, Mr. Smith now owns, directly or
indirectly, or exercises control or direction over, 1,636,900 common
shares of Equitable Group, representing approximately 10.71% of the
total number of issued and outstanding common shares of Equitable
Group.

Mr. Smith’s acquisition was made for investment purposes. Mr. Smith may,
in the future, acquire ownership and control over additional securities
of Equitable Group for investment purposes.

SOURCE Stephen Smith