Loring Ward Reports Third Quarter Results

    NEW YORK, Nov. 7 /CNW/ - Loring Ward International Ltd. (the Company)
(TSX: LW) today released its financial results for the third quarter ended
September 30, 2007. All figures are in U.S. dollars unless stated otherwise.
    The third quarter was highlighted by continued strong growth in assets
under management, which rose 34% over the prior year to $5.8 billion, and
revenue, which gained 21% to $12.8 million. The Company also reported strong
growth in new advisors and investor accounts, two important measures that
further demonstrate progress in the execution of its growth strategy.
    While the growth in variable expenses was substantially in line with the
increases in revenue and assets under management, fixed expenses for the
quarter rose 39%, mainly as a result of a number of one-time investments aimed
at further improving the efficiency of the Company's operations and
strengthening its service offering to advisors.
    Net income for the quarter was $0.4 million, or $0.05 cents per share, as
compared to $0.8 million, or $0.09 cents per share, in the prior year, a
decline of 44.4% in earnings per share. Excluding the impact of non-recurring
items in both reporting periods of $0.6 million and $0.3 million,
respectively, net income for the quarter was $1.1 million, or $0.13 cents per
share, as compared to $1.0 million, or $0.12 cents per share, in the prior
year, an increase of 8.3% in earnings per share.
    Net income from Continuing Operations was $0.5 million, an 8.8%
improvement over the third quarter of 2006. Excluding the impact of
non-recurring items in both reporting periods, net income from Continuing
Operations for the third quarter of 2007 was $1.2 million, an increase of
$0.4 million or 51.9% over the prior year. The improved performance comes as a
result of continued growth in the Company's turnkey asset management program
and a significant reduction in corporate costs.

    The primary highlights for the third quarter vs. the prior year included:

      -  Assets under management totaled $5.8 billion, up $1.5 billion
         or 34.3%;
      -  Revenue was $12.8 million, an increase of $2.2 million or 21.3%;
      -  Operating income was $2.7 million, a $0.1 million or 4.1% decline;
      -  Operating margin decreased to 21.2% from 26.8%;
      -  Fixed expenses, including Corporate, were $6.2 million, a reduction
         of $0.8 million or 13.9%;
      -  Dividend declared and paid of $0.07 CDN per share;
      -  Advisors with assets at Loring Ward increased to 724, a 22.1%
      -  Investor accounts increased to 22,805, a 31.4% increase;
      -  Stock buyback program for up to 575,000 common shares initiated and
      -  Loring Ward Capital Management sale completed.

    "Our turnkey asset management program performed as expected in a
challenging market environment in the third quarter with advisors and investor
accounts increasing to record levels, and total assets increasing 5.0% in the
quarter," stated Robert P. Herrmann, Chief Executive Officer of Loring Ward
International Ltd. He added, "This was an important period for investing in
our turnkey asset management program 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 fourth quarter
dividend of $0.07 CDN per share. The dividend will be paid on November 30,
2007 to shareholders of record on November 16, 2007.

    Stock Buyback Program

    The Company provided an update today on the progress of its Normal Course
Issuer Bid ("Buyback Program") for the purchase and cancellation of up to 10%
of the public float of common shares that was commenced on August 16, 2007. As
of October 31, 2007, the Company has bought back and cancelled 261,229 common
shares at an average price per share of $12.36 CDN.
    The Company's Q3 2007 Report to Shareholders and unaudited interim
financial statements are available on its website at www.loringward.com under
Shareholders/Financial Reports and will be available on SEDAR at

    Conference Call & Webcast

    Loring Ward's Investor Call will be Webcast at www.newswire.ca on Friday
November 9, 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:

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