Loring Ward - WRI Transaction Terminated



    TORONTO, Oct. 31 /CNW/ - Loring Ward International Ltd. ("Loring Ward" or
the "Company") (TSX: LW) today announced the termination of the arrangement
agreement dated as of July 18, 2008 between the Company and Werba Reinhard
Holdings Ltd., a subsidiary of Werba Reinhard, Inc. ("WRI"), pursuant to which
WRI was to acquire all of the outstanding shares of Loring Ward for a cash
purchase price of U.S.$18.00 per share.
    "While termination of the arrangement agreement is unfortunate," stated
David Rattee, Chairman of the Board and of the Special Committee of Loring
Ward, "the Company continues to experience positive operating cash flow,
remains debt free, is in strong financial condition and will continue to seek
to enhance shareholder value. Accordingly, while we see no strategic reason to
do a transaction at this time, Loring Ward will continue to meet its
responsibilities to shareholders by reviewing any offers. We would like to
take this opportunity to thank our shareholders and all other stakeholders for
their patience and support".
    Despite Loring Ward's efforts to renegotiate the agreement, the parties
were unable to achieve mutually agreeable terms. WRI has expressed its belief
that it is entitled to reimbursement of its expenses under the agreement's
termination provisions; however, the Company disagrees with this position.
Further, Loring Ward believes that it has claims against WRI.

    About Loring Ward

    Loring Ward International Ltd. provides in its core business a turnkey
asset management program to some of America's most knowledgeable and
successful investment advisors and their clients. These services include
investment strategies and products, back office operational processing,
education and training, and business development support. The Company's U.S.
corporate offices are headquartered in New York. For more information, please
visit www.loringward.com.

    The Company, in the ordinary course of its business, may explore
potential proposals or be the recipient of proposals with respect to strategic
opportunities and transactions, which may include strategic joint venture
relationships, significant debt or equity investments in or by the Company,
the acquisition or disposition of material assets or business lines, mergers,
new products or services, new distribution methods and other similar strategic
opportunities or transactions. The Company's policy is generally not to
publicly disclose the pursuit of a potential strategic opportunity or
transaction unless and until a definitive binding agreement is reached. The
public announcement of such matters could potentially materially affect the
price or value of the Company's securities. As a result, there can be no
assurance that investors who buy or sell the Company's securities are doing so
at a time when the Company is not pursuing a particular strategic opportunity
or transaction that, if publicly disclosed, could materially affect the price
or value of the Company's securities.
    Information in this news release that is not current or historical
factual information may constitute forward-looking information within the
meaning of securities laws. Forward-looking statements may include those
relating to the Company's objectives and strategies, as well as statements of
our beliefs, plans, expectations and intentions. Implicit in this information
are assumptions regarding future revenue and expenses, economic conditions,
and the results of pending and potential litigation involving the Company, as
well as our business strategy, expectations, intentions, and other matters.
These assumptions may prove to be incorrect, and actual outcomes and results,
including the future operating results and economic performance of the
Company, may differ materially because of many factors, including those
discussed in this press release and in our other public filings. For more
information on these risks and uncertainties you should refer to our detailed
Financial Statements and Management's Discussion and Analysis, as well as a
broader description of certain challenges and risks facing the Company, all of
which is available at www.sedar.com. Forward-looking information contained in
this news release is based on our current estimates, expectations and
projections, which we believe are reasonable as of the current date. You
should not place undue importance on forward-looking information and should
not rely upon this information as of any other date. The Company disclaims any
intention or obligation to update the information in this press release or
revise any other forward-looking statements, whether as a result of new
information, future events or otherwise, except as expressly required by law.





For further information:

For further information: Robert Herrmann at (212) 907-8080 or email:
info@loringward.com; David Rattee at (416) 591-5105 or email:
info@loringward.com

Organization Profile

LORING WARD INTERNATIONAL LTD.

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