Loring Ward International Ltd.

Loring Ward International Ltd.

November 18, 2006 16:54 ET

Loring Ward Exits Business Management to Focus on Asset Management and Advisor Services

WINNIPEG, MANITOBA--(CCNMatthews - Nov. 18, 2006) - Loring Ward International Ltd. announced today that it and its subsidiary Loring Ward Inc. have signed definitive agreements to sell its two remaining Business Management practices to companies organized by the senior managers and former owners of the businesses prior to acquisition by Loring Ward and its predecessor company. The proposed sales are subject to shareholder approval and customary closing conditions.

In connection with the sale of its Century City, California Business Management practice, the Company anticipates receiving cash proceeds of approximately U.S. $17.0 million, including loan repayments, working capital and other adjustments, plus the net proceeds from the anticipated sale over time of approximately 572,000 shares of Loring Ward common stock held in escrow, subject to certain sharing arrangements for the proceeds from sales of common stock in excess of $5.5 million. For its Encino, California Business Management practice, the Company anticipates receiving cash proceeds of approximately U.S. $4.0 million, subject to working capital and other adjustments. Each purchaser will be assuming all client relationships, employees and operating liabilities of the practice excluding a certain litigation matter associated with Loring Ward Inc.

The proposed sales are described in detail in a proxy circular to be mailed to shareholders along with instructions to vote on this important proposal. A Special Meeting of Shareholders is expected to be held in December in Toronto, Ontario to provide shareholders with the opportunity to ask questions and vote in-person.

"This confirms our commitment to the Company's core business segment in Asset Management & Advisor Services through which we offer Loring Ward Advisor Services and its turnkey asset management program," stated Robert Herrmann, Chief Executive Officer of Loring Ward International Ltd. "We intend to continue building on the momentum we are experiencing in this business and to pursue value creation for our shareholders," he added.

About Loring Ward

Loring Ward International Ltd. provides personalized investment and back office services to over 500 of the most knowledgeable and successful investment advisors across the United States. These services are provided through the Company's Asset Management & Advisor Services unit. As a result of the proposed sales, the Business & Financial Management unit will now be reported as Discontinued Operations. Loring Ward International Ltd. is an unlisted Canadian public company with principal operating subsidiaries in California and New York. The Company's U.S. corporate offices are headquartered in New York. For more information, please visit www.loringward.com.

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, 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 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 or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Contact Information