Accord Financial Corp. - Thomas L. Henderson Appointed President

    TORONTO, May 6 /CNW/ -  Accord Financial Corp. (TSX - ACD), a leading
North American provider of factoring and other asset-based financial services
to businesses, announced at today's Annual General Meeting (AGM) that Thomas
L. Henderson was appointed President and Chief Executive Officer of the
Company effective immediately. This appointment is part of a planned
succession within the Company.
    Mr. Henderson joined Accord in 1998 and has been President of its U.S.
subsidiary since 2001. Prior to that he spent most of his business career with
Heller Financial, a leading international factoring and finance company. Ken
Hitzig, one of the Company's founders in 1978, and who served as its only
President since that time, has been appointed Chairman of the Company's Board
of Directors.
    In a brief address to shareholders at today's Annual General Meeting, Mr.
Henderson acknowledged the challenges and opportunities facing Accord in the
current economic environment and resolved to use his best efforts to keep the
Company in the forefront of the factoring and finance industry.
    Commenting on the appointment of Mr. Henderson as President, Ken Hitzig
stated "I have known Tom for 25 years; I couldn't imagine a better qualified
person for the position. I am certain he will be successful in leading the
Company forward and creating opportunities for it, while meeting the
challenges that exist in the current economic environment."
    At today's AGM the Board of Directors was re-elected and KPMG LLP
reappointed as the Company's auditors.

    %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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