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HIGH RIVER, AB, Feb. 28 /CNW/ - Western Financial Group Inc. (the
"Company") has received the necessary regulatory approval to make a normal
course issuer bid through the facilities of the Toronto Stock Exchange. The
Company has been authorized to repurchase: (i) a maximum of 2,387,642 of its
common shares, representing approximately 5% of the 47,752,851 issued and
outstanding common shares as at February 26, 2008. Daily repurchases by the
Company will be limited to a maximum of 15,856 common shares, other than block
purchase exceptions, based on an average daily trading volume for the last six
calendar months of 63,426 common shares. All common shares purchased by the
Company pursuant to the bid will be cancelled. The duration of the issuer bid
shall extend for a period commencing on March 3, 2008 and ending on March 2,
2009, or on such earlier date as the Company may complete its purchases
pursuant to the bid.
The Company believes that, from time to time, the repurchase of its
common shares represents an appropriate use of its funds.
Western Financial Group is a leader in providing insurance, financial
services and banking services in over 80 communities, to more than 400,000
individuals and businesses in Western Canada through its WFG Agency Network
locations, its affiliated insurance brokers, Western Life Assurance Company
and Bank West.
The common shares of the Company are traded on the Toronto Stock Exchange
under the symbol "WES".
For further information:
For further information: Arlene Beggs, Assistant to the President,
Western Financial Group, (403) 652-2663