Wall Financial Corporation

January 11, 2005 16:30 ET

Wall Financial Corporation: Normal Course Issuer Bid


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: WALL FINANCIAL CORPORATION

TSX SYMBOL: WFC

JANUARY 11, 2005 - 16:30 ET

Wall Financial Corporation: Normal Course Issuer Bid

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 11, 2005) - Wall
Financial Corporation (TSX:WFC)(the "Company") announced that it will be
undertaking a normal course issuer bid (the "Bid") through the
facilities of The Toronto Stock Exchange commencing on January 17th,
2005. The Company intends to purchase a maximum of 1,604,593 common
shares representing 5% of its issued and outstanding shares and further
representing 37.9% of its public float. Currently the Company has
32,091,865 common shares issued and outstanding. The Bid shall terminate
no later than January 16th, 2006 subject to it completing such purchases
prior thereto.

All common shares acquired pursuant to the Bid shall be purchased
through the facilities of The Toronto Stock Exchange (the "Exchange") in
accordance with the Rules and Policies of the Exchange. All purchases
made pursuant to the Bid shall be paid for in cash at the market price
prevailing at the time of each purchase. The broker acting for the
Company in respect of its purchases under the Bid is ScotiaMcLeod Inc.

None of the directors, officers or controlling shareholders of the
Company (or their respective affiliates or associates) intends to
dispose of any common shares of the Company during the period in which
the Bid is in effect. Any shares purchased pursuant to the Bid shall be
cancelled by the Company.

The Board of Directors of the Company has concluded that the Bid is in
the best interests of the Company and its shareholders as, in its view,
the shares are undervalued when measured against the assets and
liabilities of the Company, its recent financial performance and its
future earnings potential. Accordingly, the Board has concluded that the
purchase of shares pursuant to the Bid represents a good investment for
the Company and its shareholders. The Company most recently undertook a
normal course issuer bid which expired on November 2nd, 2004 pursuant to
which an aggregate of 267,700 common shares were purchased at an average
price of $4.00 per share. Such shares were subsequently cancelled.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Wall Financial Corporation
    Mr. Bruno Wall
    President
    (604) 893-7131
    1088 Burrard Street
    Vancouver, British Columbia V6Z 2R9