Loring Ward Reports Fourth Quarter and Fiscal 2007 Results



    NEW YORK, March 4 /CNW/ - Loring Ward International Ltd. (the Company)
(TSX:LW) today released its fourth quarter and audited financial results for
the fiscal year ended December 31, 2007. All figures are in U.S. dollars
unless stated otherwise.
    Assets under management (AUM) at year-end were $6.0 billion, an increase
of $1.1 billion or 22.2% from the $4.9 billion at December 31, 2006. Total AUM
remained essentially unchanged from the third quarter of 2007 despite
difficult financial market conditions. For the full year, revenue rose 19.9%
over 2006 to $50.0 million. Revenue for the fourth quarter of 2007 increased
16.4% over the fourth quarter of 2006 to $12.6 million.
    Net income for the full year increased 128.8% to $3.7 million, or
$0.44 per share basic, versus $1.6 million, or $0.19 per share basic, in the
prior year. Net income for the fourth quarter was $0.8 million, compared to a
net loss of $0.4 million in the prior year. Net income from continuing
operations for the full year was $4.6 million, a 165.2% improvement over the
prior year, and net income from continuing operations for the fourth quarter
was $0.9 million, a 12.5% improvement over the prior year. Operating income
for the fourth quarter was $1.6 million, a $0.7 million or 77.7% increase from
the prior year. Operating margin for the fourth quarter increased to 12.4%
from 8.1%.

    
    The primary highlights for full year 2007 vs. the prior year included:

    -   Assets under management totaled $6.0 billion, up $1.1 billion
        or 22.2%;
    -   Revenue was $50.0 million, an increase of $8.3 million or 19.9%;
    -   Operating income was $5.8 million, up $6.0 million from a loss of
        $0.2 million;
    -   Operating margin increased to 11.5% from (0.5%);
    -   Advisors with assets at Loring Ward increased to 724, a
        14.9% increase;
    -   Investor accounts increased to 24,092, a 30.4% increase;
    

    "Our core asset management business performed very strongly in 2007, with
total assets, new assets, and new advisors all reaching record highs and
showing solid growth over the prior year," stated Robert P. Herrmann, Chief
Executive Officer of Loring Ward International Ltd. He added, "This translated
into substantial improvements in revenue, profits, margins and return on
equity. We enter 2008 with no debt, a solid cash position and strong cash flow
from operations."
    In 2008, the Company is focused on continuing to grow the business by
attracting advisors and increasing average AUM per advisor. Combined with the
Company's ongoing efforts to increase operational efficiencies, this is
expected to drive continued growth in operating margin and net income.

    Stock Buyback Program

    During the fourth quarter of 2007 the Company completed its Normal Course
Issuer Bid ("Buyback Program"), buying back and cancelling a total of
560,338 common shares at an average price per share of CDN $12.23. The Company
had 7.7 million shares outstanding at year end.
    The Company's Q4 2007 Report to Shareholders and audited full-year 2007
financial statements are available on its website at
www.loringward.com/Version2/investorFinancial.html.

    Conference Call & Webcast

    Loring Ward's Investor Conference Call will be Webcast at www.newswire.ca
on Thursday, March 6, 2008 at 11:00 a.m. (EDT). To participate in the
teleconference, please dial 416-644-3429 or 800-796-7558. Please dial-in about
five minutes before the start of the call to ensure your participation.

    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, dividend policy, plans to repurchase shares, 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, Phone: (212) 907-8080, E-mail:
info@loringward.com

Organization Profile

LORING WARD INTERNATIONAL LTD.

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