Global Maxfin to distribute Pacific & Western Bank GICs



    
    /NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE
    UNITED STATES/
    

    LONDON, ON, May 26 /CNW/ - Pacific & Western Credit Corp. (TSX:PWC) today
announced that Global Maxfin Investments Inc. has signed an agreement to
distribute the GICs of PWC's wholly owned subsidiary, Pacific & Western Bank
of Canada (PWBank).
    Global Maxfin is a pre-eminent, advice based, financial services company,
in Canada offering a portfolio of world class products and services to
corporate and individual investors.
    David Taylor, President and Chief Executive Officer, stated, "We are
pleased to add Global Maxfin to our growing network of deposit agents. This
relationship furthers our corporate strategy to diversify and expand our
deposit base."

    PWBank, a Schedule I chartered bank, is a branchless financial
institution with approximately $1.6 billion in assets. PWBank specializes in
providing innovative financing to large corporate and government entities
including hospitals, school boards, universities and colleges, municipalities
and provincial and federal government agencies. With no retail operations or
store fronts, PWBank is one of the most efficiently operating financial
institutions in Canada. These overhead savings translate into very competitive
rates for our clients.

    Pacific & Western Bank of Canada is wholly owned by Pacific & Western
Credit Corp., whose shares trade on the TSX under the symbol PWC.

    
    To receive company news releases, please contact:
    Carla McPhee at carlam@pwbank.com, (519) 675-4204
    





For further information:

For further information: Investor Relations: (800) 244-1509,
InvestorRelations@pwbank.com; Public Relations & Media: Tel Matrundola,
Vice-President, (416) 203-0882, telm@pwbank.com; Visit our website at:
http://www.pwbank.com

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Pacific & Western Credit Corp.

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