Loring Ward agrees to amended FFL transaction at US$17.35 per share



    NEW YORK, July 15 /CNW/ - Loring Ward International Ltd. ("Loring Ward"
or the "Company") (TSX: LW) today announced that it has entered into an
amended and restated arrangement agreement (the "Agreement") with Friedman
Fleischer & Lowe, LLC ("FFL") for the acquisition of all of Loring Ward's
outstanding shares at a price of US$17.35 per share in cash payable in U.S.
dollars (the "Plan of Arrangement"). The price is currently equivalent to
approximately Cdn$17.46. The price agreed to with FFL exceeds the US$17.30 per
share proposal offered by Werba Reinhard, Inc.
    The Company has received an opinion from its financial advisor, BMO
Capital Markets, that the offer is fair from a financial point of view to
shareholders. The Special Committee and Board have concluded unanimously that
shareholders should vote in favour of the Plan of Arrangement with FFL and
have determined that the transaction is fair to Loring Ward shareholders and
in the best interests of the Company.
    The Plan of Arrangement continues to be subject to certain conditions,
including, among others, minimum asset levels at the time of closing and
required court and shareholder approvals, as set forth in the Agreement. As
part of this amended Agreement, the Company has negotiated certain amendments
to the transaction conditions that are more favourable to the Company and to
shareholders and has agreed to an increase of US$250,000 in the transaction
break fee payable to FFL in the event the transaction is not completed in
certain circumstances. The transaction break fee remains consistent with
market comparables.
    Further details are contained in the information circular being mailed
today to shareholders and filed with the Canadian securities regulatory
authorities at www.sedar.com, in connection with the special meeting scheduled
to be held on August 6, 2008 to consider the Plan of Arrangement and related
matters. A copy of the Agreement will also be filed at www.sedar.com shortly.

    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 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 E-mail:
info@loringward.com; David Rattee at (416) 591-5105 or E-mail:
info@loringward.com

Organization Profile

LORING WARD INTERNATIONAL LTD.

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