Exhibit 99.1

Westwood Holdings Group, Inc. Reports Third Quarter 2011 Results and Increases Quarterly Dividend; Quarterly Net Income Increases 26% Year-over-year

DALLAS--(BUSINESS WIRE)--October 19, 2011--Westwood Holdings Group, Inc. (NYSE: WHG) today reported 2011 third quarter revenues of $16.0 million, net income of $3.3 million and earnings per diluted share of $0.46. This compares to revenues of $13.5 million, net income of $2.6 million and earnings per diluted share of $0.38 in the third quarter of 2010. Economic Earnings were $5.9 million compared to $5.0 million for the third quarter of 2010. Economic Earnings per share (“Economic EPS”) were $0.81 per diluted share compared to $0.73 per diluted share for the third quarter of 2010. (Economic Earnings and Economic EPS are non-GAAP performance measures and are explained and reconciled with the most comparable GAAP numbers in the attached tables.)

Assets under management increased by $1.0 billion, or 9.5%, to $11.7 billion at September 30, 2011, compared with $10.6 billion at September 30, 2010. The increase was primarily due to asset inflows from new and existing clients and the acquisition of McCarthy Group Advisors in November 2010, partially offset by the withdrawal of assets by certain clients and market depreciation of assets under management. Mutual fund assets were $1.1 billion as of September 30, 2011, an increase of 43% compared to assets of $760 million as of September 30, 2010, primarily driven by net asset inflows.

Brian Casey, Westwood’s President & CEO, commented, “While the market environment was very challenging in the third quarter, with most indexes posting double digit losses, we were pleased that new and existing clients continued to show confidence in our products as we achieved our third consecutive quarter of net positive flows. Delivering strong risk-adjusted performance to our clients remains our top priority. We also continue to utilize our strong financial position to invest in our business by adding additional talent and depth to our team as well as implementing several technology upgrades to enhance efficiencies and improve our client reporting capabilities.”

Westwood’s Board of Directors declared a quarterly cash dividend of $0.37 per common share, an increase from the previous quarterly dividend of $0.35 per share, payable on January 2, 2012 to stockholders of record on December 15, 2011.

For the nine months ended September 30, 2011, Westwood reported revenues of $51.9 million, net income of $10.6 million and earnings per diluted share of $1.47, compared to revenues of $39.9 million, net income of $8.0 million and earnings per diluted share of $1.11, for the same 2010 period. Year-to-date 2011 results include the impact of a performance-based fee of approximately $991,000. Economic Earnings for the nine months ended September 30, 2011 were $18.7 million compared to $15.1 million for the same period in 2010, while Economic EPS for the nine months ended September 30, 2011 were $2.59 per diluted share compared to $2.24 per diluted share for the same period in 2010.

Total expenses for the third quarter were $10.8 million compared with $9.4 million for the third quarter of 2010. Economic Expenses were $8.2 million compared with $6.9 million for the third quarter of 2010. (An explanation and reconciliation of Economic Expenses to total expenses is included in the attached tables.)

Westwood will host a conference call to discuss third quarter 2011 results and other business updates at 4:30 p.m. Eastern time today. To join the conference call, dial 866-337-6663 (domestic) or 904-520-5771 (international). The conference call can also be accessed at www.westwoodgroup.com under the Investor Relations tab and will be available for replay through October 26 by dialing 888-284-7564 (domestic) or 904-596-3174 (international) and entering passcode 2591391.

About Westwood

Westwood Holdings Group, Inc. manages investment assets and provides services for its clients through two subsidiaries, Westwood Management Corp. and Westwood Trust. Westwood Management Corp. is a registered investment advisor and provides investment advisory services to corporate pension funds, public retirement plans, endowments, foundations, the WHG Funds, other mutual funds, individuals and clients of Westwood Trust. Westwood Trust provides trust services and participation in common trust funds that it sponsors to institutions and high net worth individuals. Westwood Holdings Group, Inc. trades on the New York Stock Exchange under the symbol “WHG.”

For more information on Westwood, please visit www.westwoodgroup.com.

For more information on the WHG Funds, please visit www.whgfunds.com.

Note on Forward-looking Statements

Statements in this press release that are not purely historical facts, including statements about our expected future financial position, results of operations or cash flows, as well as other statements including words such as “anticipate,” “believe,” “plan,” “estimate,” “expect,” “intend,” “should,” “could,” “goal,” “target,” “designed,” “on track,” “comfortable with,” “optimistic” and other similar expressions, constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Actual results and the timing of some events could differ materially from those projected in or contemplated by the forward-looking statements due to a number of factors, including, without limitation: our ability to identify and successfully market services that appeal to our customers; the significant concentration of our revenues in four of our customers; our relationships with investment consulting firms; our relationships with current and potential customers; our ability to retain qualified personnel; our ability to successfully develop and market new asset classes; our ability to maintain our fee structure in light of competitive fee pressures; competition in the marketplace; downturns in the financial markets; new legislation adversely affecting the financial services industries; interest rates; changes in our effective tax rate; our ability to maintain an effective system of internal controls; and the other risks detailed from time to time in Westwood’s SEC filings, including but not limited to, its annual report on Form 10-K for the year ended December 31, 2010 and its quarterly report on Form 10-Q for the quarters ended March 31, June 30 and September 30, 2011. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Except as required by law, Westwood is not obligated to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events.

As supplemental information, we are providing non-GAAP performance measures that we refer to as Economic Earnings, Economic Earnings per share (or Economic EPS), and Economic Expenses. We provide these measures in addition to, not as a substitute for, net income, earnings per share and total expenses, which are reported on a GAAP basis. Management and our Board of Directors review Economic Earnings, Economic EPS and Economic Expenses to evaluate Westwood’s ongoing performance, allocate resources and review dividend policy. We believe that these non-GAAP performance measures, while not substitutes for GAAP net income, earnings per share and total expenses, are useful for both management and investors when evaluating Westwood’s underlying operating and financial performance and its available resources. We do not advocate that investors consider these non-GAAP measures without considering financial information prepared in accordance with GAAP.

We define Economic Earnings as net income plus non-cash equity-based compensation expense, amortization of intangible assets and deferred taxes related to goodwill. We define Economic Expenses as total expenses less non-cash equity-based compensation expense and amortization of intangible assets. Although depreciation on fixed assets is a non-cash expense, we do not add it back when calculating Economic Earnings or deduct it when calculating Economic Expenses because depreciation charges represent a decline in the value of the related assets that will ultimately require replacement. In addition, we do not adjust Economic Earnings for tax deductions related to restricted stock expense or amortization of intangible assets. Economic EPS represents Economic Earnings divided by diluted weighted average shares outstanding.

(WHG-G)

CONTACT:
Westwood Holdings Group, Inc.
Bill Hardcastle, 214-756-6900