Equitable Group Inc. announces CFO departure

    TORONTO, Feb. 12 /CNW/ - Equitable Group Inc. ("Equitable" or the
"Company") (TSX:ETC) today reported the departure of its Chief Financial
Officer, Randy Nanek, effective immediately.
    Mr. Nanek joined the Company on December 5, 2007. His responsibilities
will be shared by Equitable's executive management team pending the
recruitment of his replacement.
    Said Andrew Moor, President and Chief Executive Officer: "We wish Randy
success in his future endeavours. In the meantime, our management and finance
teams are fully capable of performing the CFO duties in a seamless fashion as
we seek the right candidate for this position."
    Equitable will report its financial results for the three and twelve
month period ended December 31, 2007 on schedule on February 27, 2008.

    About Equitable Group Inc.

    Equitable Group Inc. is a leading niche mortgage lender that focuses on
single-family dwelling, multi-unit residential and commercial mortgage
financing in selected geographic territories in Canada. It conducts business
through its wholly-owned subsidiary, The Equitable Trust Company, which was
founded in 1970. Equitable is also a nationally-licensed deposit-taking
institution. Equitable's non-branch business model, valued relationships with
third-party mortgage professionals and deposit-taking agents, and disciplined
lending practices have allowed the Company to grow profitably and efficiently
for many years.
    The common shares of Equitable Group Inc. are listed on the Toronto Stock
Exchange under the trading symbol of "ETC". For more information, visit

    Forward-Looking Statements

    Certain information included in this press release, including any
information as to our future financial or operating performance or possible
future business and other statements that express management's expectations or
estimates of future performance, constitute "forward -looking statements". The
words "expect", "will", "intend", "estimate" and similar expressions identify
forward-looking statements. Forward-looking statements are necessarily based
upon a number of estimates and assumptions that, while considered reasonable
by management, are inherently subject to significant risks, uncertainties and
contingencies which may cause the actual results, performance or achievements
to be materially different from any estimated future results, performance or
achievements expressed or implied by those forward-looking statements and the
forward-looking statements are not guarantees of future performance. These
statements are subject to a number of risks described in the Risks and
Uncertainties section of the MD&A, as well as its other publicly filed
information, which may be located at www.sedar.com. The Company disclaims any
intention or obligation to update or revise any forward-looking statements
whether as a result of new information, future events or otherwise, except as
required by applicable law.

    %SEDAR: 00020356E

For further information:

For further information: Andrew Moor, President & CEO, (416) 513-3519

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