Pacific & Western Credit Corp. - Reminder of Conversion Date



    LONDON, ON, Aug. 19 /CNW/ - Pacific & Western Credit Corp. (TSX:PWC)
wishes to remind everyone that PWC's Class "A" Preferred Shareholders, Series
A Noteholders and Series C Noteholders have until August 28, 2009 to submit
conversion notices to Computershare in order to convert into PWC's new Class
"B" Preferred shares. In addition, the Series A Noteholders have the
opportunity to convert to Series C Notes. Conversion notices will not be
accepted by Computershare after August 28, 2009 and the effective conversion
date for all conversions is August 31, 2009. All conversions are strictly
voluntary.
    Details of the Class "B" Preferred shares and of the proposed conversions
can be found at www.sedar.com.

    PWBank, a Schedule I chartered bank, is a branchless financial
institution with approximately $1.6 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 Credit Corp.'s 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: Wade MacBain at (800)
244-1509 or InvestorRelations@pwbank.com; Visit our website at:
http://www.pwbank.com

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Pacific & Western Credit Corp.

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