E-L Financial Corporation Limited

E-L Financial Corporation Limited

May 13, 2008 14:45 ET

E-L Financial Corporation Limited Announces Acquisition of Common Shares of United Corporations Limited

TORONTO, ONTARIO--(Marketwire - May 13, 2008) - E-L Financial Corporation Limited ("E-L") (TSX:ELF)(TSX:ELF.PR.F)(TSX:ELF.PR.G) announces that it has acquired a further 2,000 Common Shares of United Corporations Limited ("United"), increasing its ownership from 5,294,356 (43.42%) of the Common Shares to 5,296,356 (43.43%) of the Common Shares. E-L has an informal understanding with another shareholder of United under which they act in concert with respect to the voting of securities of United held by them. The purchase increases the ownership of E-L and this other shareholder from 7,761,505 (63.65%) of the Common Shares to 7,763,505 (63.66%) of the Common Shares. The purchase was effected through the facilities of the Toronto Stock Exchange. The purchase, and E-L's holding of Common Shares of United, are for investment purposes only. E-L may purchase further Common Shares from time to time, if in its judgment the shares represent a good investment in view of their price.

Contact Information

  • E-L Financial Corporation Limited
    Mark M. Taylor
    Executive Vice-President and CFO
    (416) 947-2578
    (416) 362-2592 (FAX)