Groupworks Financial Corp.

Groupworks Financial Corp.

September 18, 2007 09:00 ET

Robert Sillcox Joins Groupworks Board of Directors

TORONTO, ONTARIO--(Marketwire - Sept. 18, 2007) - Groupworks Financial Corp. ("Groupworks" or the "Corporation") (TSX VENTURE:GWC) announces that Robert Sillcox has joined the Board of Directors of Groupworks Financial Corp. Widely recognized as the former Senior Vice President and Chief Investment Officer of OMERS, Mr. Sillcox has significant investment experience gained from both the buy/sell and management areas of the investment, banking, insurance and pension industries. Mr. Sillcox has also served as Chairman of both the Pension Investment Association of Canada (PIAC) and the Pension Investment Committee (Canada) of the Financial Executives International (FEI), as a member of the President's Investment Advisory Committee of the University of Toronto, and as a member of the Advisory Committee of State Street Global Advisors Canada. He currently sits as an independent Board Member of Glenmount International and HelpCaster Technologies and is a Trustee of Ridley College (St. Catherines, ON).

Mr. Derrick March, CEO of Groupworks, welcomed Mr. Sillcox with the statement, "Groupworks is very fortunate to have a senior investment industry professional such as Mr. Sillcox join our Board as an independent director, with his notable combination of industry experience and capital markets expertise. We look forward to his contribution in all facets of the development of our business, and in particular, with respect to audit committee and governance matters given his considerable experience and as a former member of the TSX's Committee on Corporate Disclosure."

Concurrently with his joining the Board of Directors, Mr. Sillcox was awarded 75,000 options with an exercise price of $.67 expiring September 17, 2012. The grant of stock options is subject to regulatory approval. In addition, effective immediately prior to Mr. Sillcox's appointment, Mr. Rocco Liscio, Chief Financial Officer of Groupworks, stepped aside from his Board position, enabling Mr. Sillcox to join the Board immediately. The number of independent directors on the Groupworks Board has been increased to three of six. Mr. Liscio remains as CFO of Groupworks. Mr. March commented, "Mr. Liscio's resignation from the Board allows for greater representation of independent Board Members. On behalf of the members of the Board and the Corporation, I thank him for his significant contribution to the Board, and am pleased to have him as a key member of our executive team going forward."

Groupworks Financial Corp. is a leading consolidator of independent employee benefits and pension consulting practices in Canada. The Corporation's objective is to become a national benefits and pension advisory and administration organization building on the success of its recent acquisitions of Buffett Taylor & Associates, The Investment Guild, and Gallivan & Associates.

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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