Loring Ward International Ltd.

Loring Ward International Ltd.

November 18, 2006 17:23 ET

Loring Ward Reports Third Quarter Results

WINNIPEG, MANITOBA--(CCNMatthews - Nov. 18, 2006) -

Loring Ward's Investor conference call will be Webcast on http://www.ccnmatthews.com/LoringWardQ306 Monday November 20, 2006 at 11:00 a.m. (ET). Please join us and log on five minutes before the call.

As announced separately today, the Company signed agreements to sell its two Business Management practices in California to focus more resources on its Asset Management & Advisor Services business. The proposed sales, subject to shareholder approval and customary closing conditions, are detailed in a proxy circular being mailed to shareholders along with voting instructions. A Special Meeting of Shareholders will be held on December 15, 2006 in Toronto, Ontario to provide shareholders with the opportunity to ask questions and vote in-person on this important proposal.

The Company today released its financial results for the third quarter ended September 30, 2006 and, pursuant to reaching the above mentioned agreements, will now report the Business & Financial Management segment as Discontinued Operations and the Asset Management & Advisor Services and Sports Representation segments as Continuing Operations.

Third Quarter Financial Highlights

Net income was $0.8 million or $0.09 per share vs. $0.7 million and $0.08 per share reported during the third quarter of 2005. Net income from Continuing Operations was $0.5 million, an improvement of $1.1 million or 183.1% over the third quarter of 2005 while net income from Discontinued Operations was $0.2 million, a decline of 81.4% over the same 2005 period.

The Company's results from Continuing Operations were driven primarily by continued growth in the Asset Management & Advisor Services segment, evidenced by a 32% increase in client assets under management, in combination with expense control achievements resulting in operating margin of 26.8% vs. 20.1% in the prior year, and reduced corporate costs.

Results from Continuing Operations as compared to the third quarter of 2005 also include (all figures referenced are in U.S. Dollars):

- client assets under management totaled $4.3 billion, up $1.0 billion or 32%;

- revenue was $11.4 million, an increase of $1.1 million or 10.7 %. The $2.0 million or 23.1% increase in revenue from the Asset Management & Advisor Services segment was offset by a decline in revenue from the Sports Representation segment of $0.9 million or 49.4% as a result of the Company reducing its involvement in this segment in 2005;

- corporate costs were $2.0 million, a reduction of $1.2 million or 37.0%; and

- operating income increased by $0.6 million or 22.9%. The $1.1 million or 64.7% increase in operating income from the Company's Asset Management & Advisor Services segment was offset by a $0.5 million or 52.3% decline from the Company's Sports Representation segment.


Third Quarter Operational Highlights

The primary operational highlights for the third quarter included:

- net new investment assets of $137 million, bringing the year-to-date total net new assets to $504 million - the best nine-month performance in the Company's history;

- rehiring Alex Potts as Executive Vice President and Chief Operating Officer of LWI Financial Inc.;

- closing the sale of the business and substantially all the assets of the Company's New York-based Business Management practice;

- negotiating the sale of substantially all of the assets and liabilities of Loring Ward Inc., the legal entity of the California Business Management practices;

- renegotiating contracts with major external service providers, significantly lowering future expenses; and

- preparing for application to list the Company's shares on the Toronto Stock Exchange.

Stock Exchange Listing

Subsequent to the end of the third quarter, the Company submitted application for listing of its common shares on the Toronto Stock Exchange (TSX). Listing will be subject to meeting the TSX original listing requirements and there can be no assurance that the Company's shares will be listed or, if listed, as to liquidity or trading price.

"We are making progress on what we told our shareholders we would do, and that is focus more of the Company's resources on Asset Management & Advisor Services, improve financial results, and seek a stock exchange listing," stated Robert Herrmann, Chief Executive Officer of Loring Ward International Ltd.

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, 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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