Groupworks Financial Corp.

Groupworks Financial Corp.

March 03, 2008 18:03 ET

Gery Barry Joins Groupworks Board of Directors

TORONTO, ONTARIO--(Marketwire - March 3, 2008) - Groupworks Financial Corp. ("Groupworks" or the "Company") (TSX VENTURE:GWC) announces the appointment of Gery J. Barry to the Board of Directors of Groupworks Financial Corp. Currently he serves as President and Chief Executive Officer of Blue Cross and Blue Shield of Louisiana, which manages the health and medical benefits for over 1.1 million individuals. Blue Cross is the largest insurer in the State of Louisiana with 1,600 employees, $3.5 billion of annual healthcare expenditures under administration.

Prior to joining Blue Cross and Blue Shield of Louisiana, Mr. Barry was President and Chief Executive Officer of Liberty Health (formerly Ontario Blue Cross). Through his leadership the company became one of Canada's leading health and disability insurance companies. He simultaneously served as Liberty Mutual's Chief Agent in Canada, with governance responsibilities for all of Liberty's property/casualty branch operations in Canada.

Mr. John Gallivan, President of Groupworks, welcomed Mr. Barry with the statement, "Groupworks is fortunate to have a senior insurance industry professional such as Mr. Barry join our Board as an independent director. His combination of Canadian and U.S. industry experience will enhance our strategic growth plan."

In joining the Board of Directors, Mr. Barry was awarded 75,000 stock options for common shares of Groupworks at an exercise price of $0.38 expiring February 28, 2013. The stock option grant is subject to the provisions of the Groupworks stock option plan and is subject to regulatory approval.

Groupworks Financial Corp. is a consolidator of independent benefits and pension operations, consisting of a highly experienced and capable management team that has a demonstrated track record of success.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release.

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