Loring Ward Reports Second Quarter Results, Declares Dividend and Announces Stock Buyback Program



    NEW YORK, Aug. 8 /CNW/ - Loring Ward International Ltd. (the Company)
(TSX: LW) today released its financial results for the second quarter ended
June 30, 2007. All figures are in U.S. dollars unless stated otherwise.
    Net income for the quarter was $0.9 million or $0.10 per share, a
$0.2 million or 15.1% decrease from the net income of $1.1 million in the
second quarter of 2006. Excluding the impact of non-recurring items in both
reporting periods, net income for the second quarter of 2007 was $1.1 million,
an increase of $0.2 million or 30.7% over the second quarter of 2006.
    Net income from Continuing Operations was $1.0 million, a $0.3 million or
36.3% improvement over the net income of $0.7 million in the second quarter of
2006. Excluding the impact of non-recurring items in both reporting periods,
net income from Continuing Operations for the second quarter of 2007 was
$1.1 million, an increase of $0.7 million or 146.8% over the second quarter of
2006. The improved performance comes as a result of continued growth in Loring
Ward Advisor Services and a significant reduction in corporate costs.

    
    Second Quarter Highlights (Q2 2007 compared with Q2 2006)
    -   Assets under management totaled $5.5 billion, up $1.5 billion or
        36.6%;
    -   Revenue was $12.2 million, an increase of $2.3 million or 22.7%;
    -   Operating income was $3.0 million, a $0.5 million or 21.1% increase;
    -   Operating margin decreased to 24.2% from 24.5%;
    -   Fixed expenses, including Corporate Costs, were $5.5 million, a
        reduction of $0.9 million or 14.2%;
    -   Declared and paid a second quarter dividend of $0.07 CDN per share;
    -   Increased advisors with assets on the platform to 692, an 18.9%
        increase;
    -   Increased investor accounts in Loring Ward Advisor Services to
        21,297, a 29.1% increase;
    -   Initiated a substantial issuer bid to tender 750,000 shares of
        Company stock at $15.25CDN per share; and
    -   Signed a binding agreement to sell substantially all of the assets
        and liabilities of Loring Ward Capital Management, the Company's
        private client business.
    

    "Our turnkey asset management program performed strongly in the second
quarter with assets, advisors and investor accounts increasing to record
levels," said Robert Herrmann, Chief Executive Officer of Loring Ward
International Ltd. He added, "We continue investing to improve our offering,
enhance the overall client experience, improve operating efficiency and
effectiveness, and further our competitive advantage."

    Dividend Declared

    The Company also announced today that it has declared a third quarter
dividend of $0.07 CDN per share. The dividend will be paid on August 31, 2007
to shareholders of record on August 17, 2007.

    Stock Buyback Program

    The Company announced today that its Board approved a Normal Course
Issuer Bid ("Buyback Program") for the purchase and cancellation of up to 10%
of the public float of common shares. This Buyback Program is subject to
approval by the Toronto Stock Exchange.
    The Company's Q2 2007 Report to Shareholders and unaudited interim
financial statements are available on its website at
www.loringward.com/Version2/investorFinancial.html.

    Conference Call & Webcast

    Loring Ward's Investor Call will be Webcast at www.newswire.ca on Friday
August 10, 2007 at 11:00 a.m. (EDT). To participate in the teleconference,
please dial 416-915-5765 or toll-free 1-800-814-4860. Please dial-in about
five minutes before the start of the call to ensure your participation.

    About Loring Ward

    Loring Ward International Ltd. provides in its core business a turnkey
asset management program to some of America's most knowledgeable and
successful investment advisors and their clients. These services include
investment strategies and products, back office operational processing,
education and training, and business development support. The Company's U.S.
corporate offices are headquartered in New York. For more information, please
visit www.loringward.com.

    The Company, in the ordinary course of its business, may explore
potential proposals or be the recipient of proposals with respect to strategic
opportunities and transactions, which may include strategic joint venture
relationships, significant debt or equity investments in or by the Company,
the acquisition or disposition of material assets or business lines, mergers,
new products or services, new distribution methods and other similar strategic
opportunities or transactions. The Company's policy is generally not to
publicly disclose the pursuit of a potential strategic opportunity or
transaction unless and until a definitive binding agreement is reached. The
public announcement of such matters could potentially materially affect the
price or value of the Company's securities. As a result, there can be no
assurance that investors who buy or sell the Company's securities are doing so
at a time when the Company is not pursuing a particular strategic opportunity
or transaction that, if publicly disclosed, could materially affect the price
or value of the Company's securities.

    Information in this news release that is not current or historical
factual information may constitute forward-looking information within the
meaning of securities laws. Forward-looking statements may include those
relating to the Company's objectives and strategies, as well as statements of
our beliefs, plans, dividend policy, plans to repurchase shares, expectations
and intentions. Implicit in this information are assumptions regarding future
revenue and expenses, economic conditions, and the results of pending
litigation involving the Company, as well as our business strategy,
expectations, intentions, and other matters. These assumptions may prove to be
incorrect, and actual outcomes and results, including the future operating
results and economic performance of the Company, may differ materially because
of many factors, including those discussed in this press release and in our
other public filings. For more information on these risks and uncertainties
you should refer to our detailed Financial Statements and Management's
Discussion and Analysis, as well as a broader description of certain
challenges and risks facing the Company, all of which is available at
www.sedar.com. Forward-looking information contained in this news release is
based on our current estimates, expectations and projections, which we believe
are reasonable as of the current date. You should not place undue importance
on forward-looking information and should not rely upon this information as of
any other date. The Company disclaims any intention or obligation to update
the information in this press release or revise any other forward-looking
statements, whether as a result of new information, future events or
otherwise, except as expressly required by law.





For further information:

For further information: Robert Herrmann, Phone: (212) 907-8080, E-mail:
info@loringward.com

Organization Profile

LORING WARD INTERNATIONAL LTD.

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