David Taylor announces shareholdings

    LONDON, ON, Oct. 23 /CNW/ - David Taylor announced today that he sold
100,000 common shares of Pacific & Western Credit Corp. (TSX:PWC) on October
14, 2008, decreasing his ownership to less than 10%. As a result, Mr. Taylor
now holds 1,150,000 common shares of PWC, being approximately 8.43% of the
total issued and outstanding common shares of PWC. Including 187,000
additional stock options held by Mr. Taylor, which if exercised would result
in an additional 187,000 common shares, that figure is approximately 9.80%.
    Mr. Taylor stated that, "These shares were sold out of a margin account,
and were purchased by another current large shareholder of PWC. In no way do
these sales reflect my view of PWC's financial position or my view of its
future performance potential. I have been, and remain, one of the largest
shareholders of PWC since it became a public company many years ago. I have
great confidence in PWC's strategy and assets, and I look forward to
increasing my stake in the company in the future."

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