Loring Ward Reports January Assets



    NEW YORK, Feb. 21 /CNW/ - Loring Ward International Ltd. ("the Company")
(TSX:LW) announced today its January assets under management (AUM) and a
change in policy regarding the reporting of AUM and the number of Advisors
with assets. The following changes will be reported retrospectively and will
be reflected in the Company's as yet unreleased annual report to shareholders.
This change will not impact previously reported financial results.

    
    1.  Previously reported AUM excluded assets invested in the SA Funds -
        Investment Trust, where the Advisor no longer has a working
        relationship with Loring Ward. The Company continues to provide
        services for these fund shareholders and continues to earn revenue on
        these assets. Accordingly, these assets will be included in AUM. The
        impact of this change is as follows:

                                                       September    December
    2007 (in thousands)         March 31     June 30          30          31
    -------------------------------------------------------------------------
    As reported               $5,047,587  $5,519,171  $5,778,776  $5,805,850
    Recasted                  $5,211,002  $5,703,105  $5,947,108  $5,955,581


                                                       September    December
    2006 (in thousands)         March 31     June 30          30          31
    -------------------------------------------------------------------------
    As reported               $3,887,485  $4,046,946  $4,290,565  $4,688,597
    Recasted                  $4,070,223  $4,227,068  $4,491,090  $4,875,228


    2.  Previously reported Advisor totals included Advisors with no AUM for
        a period of up to 90 days before they were removed from the total.
        The Company's new policy excludes all Advisors with no AUM on the
        last day of each month. The impact of this change is as follows:

                                               Sept-    Oct-    Nov-    Dec-
                        June    July  August   ember    ober   ember   ember
    Month in 2007         30      31      31      30      31      30      31
    -------------------------------------------------------------------------
    As reported          692     702     713     724     730     735     746
    Recasted             681     690     699     709     714     718     724
    

    As at January 31, 2008, total AUM was $5.7 billion, a decline of
$0.3 billion or 4.5% from the $6.0 billion at December 31, 2007, and an
increase of $0.7 billion or 13.9% from the $5.0 billion at January 31, 2007.
Excluding the assets of The Wealth Collaborative (formerly Loring Ward Capital
Management), assets in the Company's turnkey asset management program were
$5.4 billion, a decline of $0.3 billion or 4.6% from the $5.7 billion at
December 31, 2007, and an increase of $0.8 billion or 16.6% from the
$4.6 billion at January 31, 2007.
    Net new assets were $26 million for the month of January 2007, a 59.6%
decline from January of the prior year. The number of independent advisors
with assets at Loring Ward was 724, unchanged from December 31, 2007. The
number of client accounts reached 24,210, an increase of 118 from December 31,
2007.
    For certain information on the Company's historical growth trend of
assets under management, new client accounts and new advisors, please visit
the following link to the Company's website
http://www.loringward.com/Version2/monthlyReports/JanuaryAssetReporting.pdf.

    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.
    As previously announced by the Company, Werba Reinhard Holdings Ltd. (the
"Insider"), the Company's largest shareholder, has announced its intention to
make an unsolicited offer to acquire all of the outstanding shares of the
Company for CDN$13.75 in cash per share. The Company has formed a special
committee of its Board of Directors to, among other things, review and
evaluate the expected unsolicited offer and to consider alternative proposals.
There can be no assurance that the Insider will make a formal take-over bid,
or if made, when it will be made, the terms and conditions of such bid or
whether or not it will ultimately be successful. In addition, there can be no
assurance that the Company will identify or pursue any alternative proposals
to the unsolicited offer. Lastly, there is no assurance that the unsolicited
offer, any abandonment of the unsolicited offer by the Insider or any
alternative proposals that are pursued by the Company will not 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 a pending lawsuit 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.

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890