Kingsway Financial Services Inc. appoints new director



    TORONTO, Jan. 8 /CNW/ - (TSX:KFS, NYSE:  KFS) Kingsway Financial Services
Inc ("Kingsway") announced today that it has appointed J. Peter Eccleton, CA
to hold the seat previously held by a retiring director John L. Beamish. Mr.
Beamish who has served as a director of Kingsway since 1998 has retired
because of his growing responsibilities as a personal caregiver to a family
member.
    Mr. Eccleton recently retired as a senior partner in the financial
services practice of a major accounting firm. In his over 25 years as a
partner he concentrated on the insurance industry and his clients have
included many leading Canadian insurance companies. Mr. Eccleton has served on
a number of Canadian Institute of Chartered Accountants standard setting
committees including the Insurance Accounting Task Force and the Task Force on
Independence Standards for Auditors of Public Interest Entities and he has
been a member of the Insurance Auditors Advisory Committee of the Office of
the Superintendent of Financial Institutions Canada. In addition to being
recognized as a Chartered Accountant in both New Zealand and Canada, he is a
Fellow of the Institute of Chartered Secretaries and Administrators and is
currently completing the Corporate Directors Education Program.
    F. Michael Walsh, non-executive Chairman of Kingsway commented: "On
behalf of the board and the shareholders of Kingsway, I would like to thank
John Beamish for his decade of devoted service to the company. At the board we
will miss his always apt advice and warm fellowship. I am very pleased that
John has agreed to continue to serve as a director of Kingsway General
Insurance Company, our principal Canadian operating subsidiary." Mr. Walsh
continued: "It is a great pleasure to welcome Peter Eccleton to the board of
Kingsway. Peter brings a wealth of experience in auditing and advising
Canadian insurance companies and deep technical knowledge. I know that he will
make an invaluable contribution to Kingsway as we work to restore
profitability and build shareholder value."

    About the Company

    Kingsway Financial Services Inc. is one of the largest non-standard
automobile insurers and truck insurers in North America based on A.M. Best
data that we have compiled. Kingsway's primary business is the insuring of
automobile risks for drivers who do not meet the criteria for coverage by
standard automobile insurers and trucking insurance. The Company currently
operates through eleven wholly-owned insurance subsidiaries in Canada and the
U.S. Canadian subsidiaries include Kingsway General Insurance Company and
Jevco Insurance Company. U.S. subsidiaries include Universal Casualty Company,
American Service Insurance Company, Southern United Fire Insurance Company,
Lincoln General Insurance Company, U.S. Security Insurance Company, American
Country Insurance Company, Zephyr Insurance Company, Mendota Insurance Company
and Mendakota Insurance Company. The Company also operates reinsurance
subsidiaries in Barbados and Bermuda. The common shares of Kingsway Financial
Services Inc. are listed on the Toronto Stock Exchange and the New York Stock
Exchange, under the trading symbol "KFS".

    Forward Looking Statements

    This press release includes "forward looking statements" that are subject
to risks and uncertainties. For information identifying important factors that
could cause actual results to differ materially from those anticipated in the
forward looking statements, see Kingsway's securities filings, including its
2007 Annual Report under the heading Risk Factors in the Management's
Discussion and Analysis section. The securities filings can be accessed on the
Canadian Securities Administrators' website at www.sedar.com, and on the EDGAR
section of the U.S. Securities and Exchange Commission's website at
www.sec.gov or through the Company's website at www.kingsway-financial.com.
The Company disclaims any intention or obligation to update or revise any
forward looking statements, whether as a result of new information, future
events or otherwise.

    %SEDAR: 00003152E          %CIK: 0001072627




For further information:

For further information: Kingsway Financial Services Inc., Shelly Gobin,
Senior Vice President and Chief Financial Officer, Tel: (905) 677-8889, Fax:
(905) 677-5008, Web Site: www.kingsway-financial.com


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