The Loyalist Insurance Group Limited announces refiling of continuous disclosure documents



    ANCASTER, On, April 5 /CNW/ - The Loyalist Insurance Group Limited (the
"Company") (TSX Venture Exchange symbol: LOY) announces that it has filed on
SEDAR the following documents:

    
    1. revised annual Management Discussion and Analysis ("MD&A") for the
       financial year ended December 31, 2005;
    2. the financial statements for the interim period ended March 31, 2006
       with additional notes thereto and a revised interim MD&A for such
       period;
    3. the financial statements for the interim period ended June 30, 2006
       with additional notes thereto and a revised interim MD&A for such
       period;
    4. the financial statements for the interim period ended September 30,
       2006 with additional notes thereto; and
    5. a notice withdrawing the annual information form of the Company filed
       on SEDAR on April 28, 2006.
    

    In conjunction with the filing of the revised annual and interim MD&As
and the interim 2006 financial statements with amended notes, the Company has
filed new certifications of its annual and interim filings by its Chief
Executive Officer and Chief Financial Officer as required under Multilateral
Instrument 52-109 for the year ended December 31, 2005 and each of the
quarters ended March 31, 2006, June 30, 2006 and September 30, 2006.
    The documents noted above in items 1 through 4 replace and supersede the
documents previously filed. The re-filings were undertaken to correct a number
of deficiencies identified by the Ontario Securities Commission and the
British Columbia Securities Commission, pursuant to continuous disclosure
reviews of the Company's filings.
    The annual and interim MD&As have been revised to i) include certain
disclosure items previously omitted; ii) provide more detailed discussions of
the Company's results of operations for the periods indicated; iii) provide a
more comprehensive discussion of the Company's liquidity and capital
resources; and (iv) provide a discussion of the risks and uncertainties which
the Company faces.
    The Company's interim MD&As for 2005 should not be relied upon. Reference
should be made instead to the revised annual MD&A for 2005.
    The notes to the interim financial statements for 2006 were amended to
add two additional notes respecting trust accounts and changes to non-cash
working capital balances. Otherwise, there were no changes to the interim
financial statements for 2006.
    The Company emphasizes that the revised annual and interim MD&As and the
additional notes to the interim financial statements do not involve the
restatement of financial information published previously by the Company.
    The above-noted documents have been posted on SEDAR and may be viewed at
www.sedar.com.
    The Company is subject to cease trade orders issued by the securities
regulators in Ontario, British Columbia and Alberta in May of 2005. The
Company is working with the regulators towards a revocation of the cease trade
orders.

    The Loyalist Insurance Group Limited is a financial services holding
company primarily involved, through its subsidiary in the retail insurance
brokerage business.

    The TSX Venture Exchange has neither approved or disapproved of the
    information contained herein.

    %SEDAR: 00009147E




For further information:

For further information: Mr. Donald Coons, President & CEO, The Loyalist
Insurance Group Limited, (905) 648-6767

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Loyalist Group Limited

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