Loring Ward Update on Unsolicited Offer

    NEW YORK, March 4 /CNW/ - Loring Ward International Ltd. ("Loring Ward"
or the "Company") (TSX:LW) announced today that its board of directors has
preliminarily concluded the proposed unsolicited offer by Werba Reinhard
Holdings Ltd. (the "Insider") to acquire all of the outstanding shares
("Shares") of the Company for CDN$13.75 in cash per Share is financially
inadequate (as was its prior proposed offer range of up to CDN$15.25 per
    The Company and the Insider are engaged in discussions involving the
Ontario Securities Commission with respect to insider bid requirements of
applicable securities laws. There can be no assurance when, or if, the Insider
will make its proposed offer, or the terms and conditions thereof if it does
so. In particular, there can be no assurance that any conditions proposed by
the Insider will be capable of being satisfied. The Insider has advised that
it currently holds approximately 21.2% of the outstanding Shares.
    Seeking to enhance shareholder value, the Company has entered into
discussions and signed confidentiality agreements with a number of parties who
have expressed initial interest in acquiring the Company. There can be no
assurance that these discussions will lead to an offer being made for the
Company or as to the terms should an offer be made.
    The Company continues to advise shareholders not to deposit any Shares to
the offer, if and when it is commenced, and to defer making any decision until
the board of directors has had an opportunity to fully review the offer and to
make a formal recommendation as to its merits. Assuming that the offer is
made, Shareholders will be promptly notified of any recommendation by the
board of directors through a news release and directors' circular in
accordance with applicable securities laws.

    About Loring Ward

    Loring Ward International Ltd. provides 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.

    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, expectations and intentions. Implicit in this information
are assumptions, future revenues and expenses, economic conditions, and the
results of a pending lawsuit 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 from the results discussed in the forward-looking statements
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. In particular, Werba Reinhard Holdings Ltd. may not proceed
with the announced offer and/or other value-enhancing alternatives may not
result and/or the conditions of any offer may not be satisfied.
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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