Accord Financial Corp. - Accord Announces Normal Course Issuer Bid

    TORONTO, Aug. 1 /CNW/ - Accord Financial Corp. (TSX - ACD), a leading
North American provider of a wide range of factoring and other asset-based
financial services to businesses, including financing, collection services,
credit investigation, credit protection and guarantees, today announced that
the Toronto Stock Exchange (the "TSX") has accepted for filing a Notice of
Intention to Make a Normal Course Issuer Bid (the "Bid").
    Pursuant to this Bid, the Company may purchase up to 474,723 common
shares during the next 12 months being 5% of the 9,494,471 issued and
outstanding common shares as at July 31, 2007. Any shares purchased pursuant
to the Bid will be cancelled. All purchases will be made through facilities of
the TSX and in accordance with the TSX's rules and policies. Pursuant to TSX
policies, daily purchases made by the Company will not exceed 1,000 common
shares, subject to a prescribed exception which allows for one block purchase
per calendar week.
    The Bid will commence on August 8, 2007 and terminate on the earlier of
the date on which the Company completes its purchases pursuant to the Bid or
August 7, 2008. Under the Company's existing Bid, which commenced August 8,
2006 and expires August 7, 2007, 321,700 shares have been repurchased for
cancellation at an average price of $7.62 for a total consideration of
$2,451,975. The Company believes that it may be advantageous to engage in
repurchases of its common shares, from time to time, when they are trading at
prices which the Company believes reflect a discount from the underlying value
of its common shares.

    %SEDAR: 00001979E

For further information:

For further information: Stuart Adair, Chief Financial Officer, Accord
Financial Corp., 77 Bloor Street West, 18th floor, Toronto, Ontario, M5S 1M2,
(416) 961-0304 ext. 207,

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