Edward Jones to distribute Pacific & Western Bank GICs


    LONDON, ON, May 28 /CNW/ - Pacific & Western Credit Corp. (TSX:PWC) today
announced that Edward Jones has signed an agreement to distribute the GICs of
PWC's wholly owned subsidiary, Pacific & Western Bank of Canada (PWBank).
    Edward Jones is a Member of the Investment Industry Regulatory
Organization of Canada and the Canadian Investor Protection Fund, and is a
Participating Organization of the Toronto Stock Exchange. It offers a
comprehensive range of investment products and services through more than 650
financial advisors across Canada.
    David Taylor, President and Chief Executive Officer, stated, "We are
pleased to add Edward Jones to our growing network of deposit agents and have
the opportunity to offer our GICs to Edward Jones's customers in Canada. This
relationship furthers our corporate strategy to diversify and expand our
deposit base."
    PWBank, a Schedule I chartered bank, is a branchless financial
institution with approximately $1.6 billion in assets. PWBank specializes in
providing innovative financing to large corporate and government entities
including hospitals, school boards, universities and colleges, municipalities
and provincial and federal government agencies. With no retail operations or
store fronts, PWBank is one of the most efficiently operating financial
institutions in Canada. These overhead savings translate into very competitive
rates for our clients.

    Pacific & Western Bank of Canada is wholly owned by Pacific & Western
Credit Corp., whose shares trade on the TSX under the symbol PWC.

    To receive company news releases, please contact:
    Carla McPhee at carlam@pwbank.com, (519) 675-4204

For further information:

For further information: Investor Relations: (800) 244-1509,
InvestorRelations@pwbank.com; Public Relations & Media: Tel Matrundola,
Vice-President, (416) 203-0882, telm@pwbank.com; Visit our website at:

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Pacific & Western Credit Corp.

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