Loring Ward International Ltd.

Loring Ward International Ltd.

April 20, 2007 15:07 ET

Lawsuit Filed Against Discontinued Loring Ward Business Management Practice

WINNIPEG, MANITOBA--(CCNMatthews - April 20, 2007) - Loring Ward International Ltd. (the Company) (TSX:LW) announced today that a lawsuit had been filed in the New York state courts by Damon Dash against certain of its subsidiaries formerly involved in its discontinued Business Management practices and Barry Klarberg, a former manager of one of those practices. The Business Management practices operating in these subsidiaries were sold in 2006. The filing, which has not yet been served on Loring Ward, seeks US$3.5 million plus interest and disbursements of this action as a result of alleged professional malpractice and breach of fiduciary duty resulting from errors allegedly made on the plaintiff's tax returns and other matters. The Company noted its confidence that the claims would prove to be without merit and, if served on it, would be vigorously contested.

About Loring Ward

Loring Ward International Ltd. provides in its core business a turnkey asset management program to some of America's most knowledgeable and successful investment advisors and their clients. These services include investment strategies and products, back office operational processing, education and training, and business development support. The Company's U.S. corporate offices are headquartered in New York. For more information, please visit www.loringward.com.

The Company, in the ordinary course of its business, may explore potential proposals or be the recipient of proposals with respect to strategic opportunities and transactions, which may include strategic joint venture relationships, significant debt or equity investments in or by the Company, the acquisition or disposition of material assets or business lines, mergers, new products or services, new distribution methods and other similar strategic opportunities or transactions. The Company's policy is generally not to publicly disclose the pursuit of a potential strategic opportunity or transaction unless and until a definitive binding agreement is reached. The public announcement of such matters could potentially materially affect the price or value of the Company's securities. As a result, there can be no assurance that investors who buy or sell the Company's securities are doing so at a time when the Company is not pursuing a particular strategic opportunity or transaction that, if publicly disclosed, could materially affect the price or value of the Company's securities.

Information in this news release that is not current or historical factual information may constitute forward-looking information within the meaning of securities laws. Forward-looking statements may include those relating to the Company's objectives and strategies, as well as statements of our beliefs, plans, expectations and intentions. Implicit in this information are assumptions regarding future revenue and expenses, economic conditions, and the results of a pending lawsuit involving the Company, as well as our business strategy, expectations, intentions, and other matters. These assumptions may prove to be incorrect, and actual outcomes and results, including the future operating results and economic performance of the Company, may differ materially because of many factors, including those discussed in this press release and in our other public filings. For more information on these risks and uncertainties you should refer to our detailed Financial Statements and Management's Discussion and Analysis, as well as a broader description of certain challenges and risks facing the Company, all of which is available at www.sedar.com. Forward-looking information contained in this news release is based on our current estimates, expectations and projections, which we believe are reasonable as of the current date. You should not place undue importance on forward-looking information and should not rely upon this information as of any other date. The Company disclaims any intention or obligation to update the information in this press release or revise any other forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by law.

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