Pacific & Western declares annual dividend



    LONDON, ON, Nov. 29 /CNW/ - Pacific & Western Credit Corp. (TSX:PWC) will
pay an annual dividend on its outstanding Class "A" Preferred Shares on
December 31, 2007 at the rate of $0.21 per share, unchanged from last year.
    The provisions for the Class "A" Preferred Shares provide that the
dividends accrue from the date of issue and are payable on December 31st of
each year at the annual rate of 7% of the issue price.
    The dividends to which this notice relates are payable on December 31,
2007 to shareholders of record at the close of business on December 14, 2007.

    Pacific & Western Bank of Canada (PWBank), a Schedule I chartered bank,
is a branchless financial institution with $1.5 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.

    On behalf of the Board of Directors: David R. Taylor, President & C.E.O.

    Further information is available through Pacific & Western's corporate
web site at http://www.pwbank.com





For further information:

For further information: Tel Matrundola, Vice President at
telm@pwbank.com or by phone at 1-866-787-9936. To receive company news
releases via e-mail, please contact Camille Malette, Telephone (519) 675-4204,
camillem@pwbank.com

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Pacific & Western Credit Corp.

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