Canadian Western Bank Issues Subordinated Debentures



    /NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN
    THE U.S./

    EDMONTON, June 27 /CNW/ - Canadian Western Bank (CWB on TSX) today
announced it has closed the domestic offering of $50 million of 5.95% Series C
Subordinated Debentures (the "Debentures") due June 27, 2018. The Debentures
will qualify as Tier 2B capital of the Bank for regulatory purposes. The
completion of this offering is consistent with the Bank's objective to
maintain a strong and efficient capital structure.
    National Bank Financial Inc. acted as agent for the offering.
    The securities offered have not been registered under the U.S. Securities
Act of 1933, as amended, and may not be offered or sold in the United States
absent registration or an applicable exemption from the registration
requirements. This news release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of the securities
in any State in which such offer, solicitation or sale would be unlawful.

    About Canadian Western Bank
    ---------------------------
    Canadian Western Bank offers highly personalized service through 35
branch locations and is the largest publicly traded Schedule I chartered bank
headquartered in and regionally focused on Western Canada. The Bank, with
total balance sheet assets of more than $10.0 billion and assets under
administration of over $4.4 billion, specializes in mid-market commercial
lending and offers a full range of retail services. Trust services to
independent financial advisors, corporations, income trusts and individuals
are provided through the Bank's wholly owned subsidiaries, Canadian Western
Trust Company and Valiant Trust Company. Canadian Direct Insurance
Incorporated is a wholly owned subsidiary providing personal auto and home
insurance to customers in BC and Alberta. The common shares of Canadian
Western Bank are listed on the Toronto Stock Exchange under the trading symbol
'CWB'. Refer to www.cwbankgroup.com for additional information.





For further information:

For further information: Larry M. Pollock, President and Chief Executive
Officer, Canadian Western Bank, Phone: (780) 423-8888; Kirby Hill, CFA, Senior
Manager, Investor and Public Relations, Canadian Western Bank, Phone: (780)
441-3770, Cell: (780) 918-9084, E-mail: kirby.hill@cwbank.com

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Canadian Western Bank

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