Accord Announces Third Quarter and Nine Months 2009 Earnings and Declares
Regular Quarterly Dividend

TORONTO , Oct. 26 /CNW/ - Accord Financial Corp. (TSX - ACD), a leading North American provider of factoring and other asset-based financial services to businesses, today released its interim unaudited consolidated financial results for the three and nine months ended September 30, 2009 . The financial results presented in this release are reported in Canadian dollars and have been prepared in accordance with Canadian generally accepted accounting principles.

    
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    SUMMARY OF FINANCIAL RESULTS
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                          Three Months Ended          Nine Months Ended
                             September 30                September 30
                          2009          2008          2009          2008
                          ----          ----          ----          ----

    Factoring volume
     (millions)       $        449  $        419  $      1,232  $      1,167

    Revenue           $  5,663,933  $  6,785,016  $ 17,412,184  $ 21,306,498

    Net earnings      $    709,231  $  1,332,115  $  2,483,575  $  4,579,351

    Earnings per share
      Basic           $       0.08  $       0.14  $       0.26  $       0.48
      Diluted         $       0.08  $       0.14  $       0.26  $       0.48

    Weighted average
     number of shares
      Basic              9,427,823     9,546,936     9,421,466     9,503,266
      Diluted            9,427,823     9,568,058     9,426,791     9,551,374
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Net earnings for the third quarter of 2009 declined to $709,231 compared with $1,332,115 last year. Earnings declined due to lower revenue and a higher provision for credit and loan losses. Diluted earnings per share for the third quarter decreased to 8 cents compared to 14 cents last year. Factoring volume increased by 7% to a record $449 million in the third quarter compared to $419 million last year. Revenue, however, declined to $5,663,933 from $6,785,016 last year as a result of lower funds employed, as well as reduced yields due, in part, to lower interest rates and an increase in non-performing loans.

Net earnings for the nine months ended September 30, 2009 declined to $2,483,575 compared with $4,579,351 in 2008. Diluted earnings per share were 26 cents compared to 48 cents last year. Factoring volume for the first nine months of 2009 rose by 6% to a record $1,232 million . Total revenue decreased to $17,412,184 for reasons similar to those noted above.

The Company's Board of Directors today declared a regular quarterly dividend of $0.065 per share, payable December 1, 2009 to shareholders of record November 13, 2009 .

%SEDAR: 00001979E

For further information: Stuart Adair, Chief Financial Officer, Accord Financial Corp., 77 Bloor Street West, 18th floor, Toronto, ON, M5S 1M2, [phone] Ext. 207, [email protected]