Press Release- Stilwell Value LLC

NEW YORK, July 2 /CNW/ - Stilwell Value LLC, in its capacity as general partner of Stilwell Value Partners IV, L.P. and Stilwell Associates L.P. (collectively, the "Offeror"), announced today that it has acquired ownership and control over an aggregate of 1,046,175 common shares (the "shares") of Kingsway Financial Services Inc. (the "Company") at an average purchase price of CAD$1.82 per share, representing approximately 2% of the total outstanding shares of the Company.

As a result of the acquisition, the Offeror now owns and/or controls and/or directs an aggregate of 8,735,722 shares, representing approximately 16.8% of the total outstanding shares of the Company.

The Offeror acquired the shares in the ordinary course of business for investment purposes and may, from time to time, acquire additional securities of the Company or dispose of such securities as it may deem appropriate. The shares were purchased through the facilities of the New York Stock Exchange.

Name and address of the Offeror:

    Stilwell Value LLC
    111 Broadway, 12th Floor
    New York, New York
    10004, USA

For further information: Spencer L. Schneider at (212) 233-7400