Loring Ward Reports Wolf Files State Court Action



    NEW YORK, July 29 /CNW/ - Loring Ward International Ltd. (the "Company")
(TSX: LW) today reported that the plaintiff in the dismissed federal court
action Christine Wolf v. Loring Ward International Ltd., et al. has filed an
action in California state court against an indirect subsidiary, Loring Ward
Inc., and two formerly associated persons. The new action is based upon the
same underlying facts as was the federal court action.
    The federal court action had been dismissed previously and the plaintiff
is appealing the federal court's dismissal. The new state action is
characterized by the plaintiff as a "protective action" to preserve the
Plaintiff's claims if the appeal of the dismissal of the federal court action
"is unsuccessful". The Company believes that the new proceeding lacks merit
and that it has adequate defenses and will prevail in the matter.

    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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