Loring Ward receives Werba Reinhard US$17.50 proposal



    NEW YORK, July 7 /CNW/ - Loring Ward International Ltd. ("Loring Ward" or
the "Company") (TSX: LW) today announced that Werba Reinhard, Inc. ("WRI")
has, following being provided with access for due diligence purposes,
submitted a written proposal to acquire, by way of a plan of arrangement, all
of the outstanding shares of Loring Ward for US$17.50 per share in cash
payable in U.S. dollars, on terms substantially similar to those of the
previously announced US$16.50 offer of Friedman Fleischer & Lowe Capital
Partners II, L.P. ("FFL").
    Loring Ward's Special Committee of the Board of Directors intends to
negotiate such proposal with WRI to determine if it can become a firm offer
that Loring Ward could treat as a Superior Proposal under the terms of the
existing definitive agreement with FFL (the "FFL Arrangement Agreement").
There can be no assurance that WRI will in fact make a firm offer to
shareholders, or if it does, as to the price, terms or conditions thereof. In
the event that WRI does make an offer that the Board determines constitutes a
Superior Proposal which Loring Ward wishes to accept, FFL would have the
right, but not the obligation, to match such offer by WRI within a five
business day period.
    The Committee and the Board as a whole confirm that they continue to
support the FFL Arrangement Agreement and confirm their unanimous conclusion
and recommendation that shareholders should vote in favour of the FFL
transaction, under which all of the shares of the Company are proposed to be
acquired by FFL at a price of US$16.50 per share. The Agreement with FFL
remains in full force and effect at this time.

    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
Management's Discussion and Analysis, 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, Phone: (212) 907-8080, E-mail:
info@loringward.com

Organization Profile

LORING WARD INTERNATIONAL LTD.

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