National Bank Financial to distribute Pacific & Western Bank GICs



    LONDON, ON, July 23 /CNW/ - Pacific & Western Credit Corp. (TSX:PWC)
today announced that National Bank Financial has commenced distributing the
GICs of PWC's wholly owned subsidiary, Pacific & Western Bank of Canada
(PWBank).
    National Bank Financial, one of Canada's leading wealth management firms,
offers an exceptional portfolio of world-class products and services through
more than 750 Investment Advisors located in over 86 offices across Canada.
    David Taylor, President and Chief Executive Officer, stated, "We are
pleased to expand our relationship with National Bank and have the opportunity
to offer our GICs to National Bank Financial's customers. This relationship
furthers our corporate strategy to diversify and expand our deposit base."
    PWBank, a Schedule I chartered bank, is a branchless financial
institution with approximately $1.2 billion in assets. PWBank specializes in
providing innovative financing to large corporate and government entities
including hospitals, school boards, universities and colleges, municipalities
and provincial and federal government agencies. With no retail operations or
store fronts, PWBank is one of the most efficiently operating financial
institutions in Canada. These overhead savings translate into very competitive
rates for our clients.

    Pacific & Western Bank of Canada is wholly owned by Pacific & Western
Credit Corp., whose shares trade on the TSX under the symbol PWC.

    To receive company news releases, please contact:
    Carla McPhee at carlam@pwbank.com, (519) 675-4204





For further information:

For further information: Investor Relations: (800) 244-1509,
InvestorRelations@pwbank.com; Public Relations & Media: Tel Matrundola,
Vice-President, (416) 203-0882, telm@pwbank.com; Visit our website at:
http://www.pwbank.com.

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Pacific & Western Credit Corp.

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