Loring Ward International Ltd.

Loring Ward International Ltd.

May 22, 2006 18:33 ET

Loring Ward Reports First Quarter Results

WINNIPEG, MANITOBA--(CCNMatthews - May 22, 2006) -

Note to reporters and editors: Loring Ward's Investor conference call will be Webcast on www.ccnmatthews.com/LoringWardQ12006 Tuesday, May 23 at 11:00 a.m. ET. Please join us and log on five minutes before the call.

Loring Ward International Ltd. today released its financial results for the first quarter ended March 31, 2006.

First Quarter Financial Highlights

Operating income for the first quarter ended March 31, 2006 totaled $4.0 million, compared to $3.8 million reported a year ago, an increase of $0.2 million or 6.1%. This increase is due to a $0.7 million or 73.4% growth in contribution from the Company's Asset Management & Advisory Services segment offset by a $0.5 million decrease in contribution from the Business & Financial Management segment. Results also include the following as compared to the first quarter of 2005 (all figures referenced are in U.S. Dollars):

- Client assets under management totaled $4.1 billion, up $1.2 billion, a 43.6% increase;

- Revenue was $19.5 million, an increase of $0.2 million or 1.0 %;

- Earnings before interest, income taxes, depreciation and amortization ("EBITDA") totaled $1.3 million, an increase of $0.3 million or 30.4%; and

- Net earnings were $0.2 million, an improvement of $0.2 million.

First Quarter Operational Highlights

The primary operational highlights for the first quarter included:

- Appointment of Robert P. Herrmann as President of Loring Ward Advisor Services;

- Migration of certain support functions from the corporate office in New York into the business units in California, and outsourcing of certain information technology functions;

- Forums and personal visits with hundreds of investment advisor clients contributing to the record asset growth during the quarter; and

- Appointment of Gerard Melia as Chief Financial Officer of Loring Ward International Ltd.

Subsequent to the end of the first quarter, on April 20, 2006, Robert P. Herrmann was appointed President & Chief Executive Officer of Loring Ward International Ltd., and David Rattee, an independent Company director, was appointed Chairman of the Board.

The Company ended 2005 focused on two US-based core businesses - Asset Management & Advisory Services and Business & Financial Management. During the first quarter of 2006, the Company continued with initiatives designed to sustain the growth momentum in the Asset Management & Advisory Services business and increase the profitability of the Business & Financial Management business.

In other news, the Company also announced that it had terminated discussions resulting from the previously announced unsolicited indication of interest in its Asset Management & Advisory Services business.

"This confirms that Loring Ward Advisor Services and its turnkey asset management program is a business we have tremendous confidence in. We intend to continue to invest in and focus on this business, and we are determined to maintain its growth path. We have a talented group of colleagues working in this division, supporting some of the most knowledgeable and talented investment advisors in the country, along with Dimensional Fund Advisors, who we believe is one of the world's most capable institutional money managers," stated Robert Herrmann, Chief Executive Officer of Loring Ward International Ltd.

"As we move forward through 2006 and beyond, we will continue to seek to improve our focus and financial performance, and pursue opportunities for value creation for our shareholders," he added.

About Loring Ward

Loring Ward International Ltd. provides wealth and life management services to some of America's most enterprising and successful individuals and families. These services are provided through the Company's two primary businesses - Asset Management & Advisory Services and Business & Financial Management. It 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.

The Company, in the ordinary course of its business, regularly explores potential 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, 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 the information in this press release or revise any other forward-looking statements, whether as a result of new information, future events or otherwise.

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