Canadian Western Bank exploring acquisition opportunities; nothing confirmed to date

    EDMONTON, June 12 /CNW/ - In response to a recent Bloomberg article,
Canadian Western Bank (TSX: CWB) (CWB or 'the Bank') wishes to clarify that it
is not in discussions with either General Electric Capital Corp. or John Deere
Capital Corp. to acquire one of their finance programs. CWB continues to
explore opportunities to acquire loan portfolios and/or other complementary
businesses; however, it has not entered into any agreement or letter of intent
with either of these parties.

    About Canadian Western Bank

    Canadian Western Bank offers highly personalized service through 36
branch locations and is the largest publicly traded Schedule I chartered bank
headquartered in Western Canada. The Bank, with total balance sheet assets of
more than $11 billion, assets under administration of over $4 billion and
assets under management approaching $1 billion, specializes in mid-market
commercial lending and offers a full range of retail banking services. Trust
services to independent financial advisors, corporations, income trusts and
individuals are provided through the Bank's subsidiaries, Canadian Western
Trust Company and Valiant Trust Company. Canadian Direct Insurance
Incorporated is a subsidiary that offers personal auto and home insurance to
customers in BC and Alberta. Subsidiary Adroit Investment Management Ltd.
provides wealth management services to individuals, corporations and
institutional clients. The common shares of Canadian Western Bank are listed
on the Toronto Stock Exchange under the trading symbol 'CWB'. The Bank's
Series 3 preferred shares and common share purchase warrants trade on the
Toronto Stock Exchange under the trading symbols 'CWB.PR.A' and 'CWB.WT'
respectively. Refer to for additional information.

For further information:

For further information: Kirby Hill, CFA, Assistant Vice President,
Investor and Public Relations, P: (780) 441-3770, E:,, OR Larry M. Pollock, President and Chief Executive
Officer, Canadian Western Bank, Phone: (780) 423-8888

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Canadian Western Bank

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