Pacific & Western announces shareholdings of President & C.E.O.

    LONDON, ON, June 10 /CNW/ - Pacific & Western Credit Corp. (TSX:PWC)
announced today that David Taylor, President & C.E.O., has exercised stock
options to acquire 50,000 common shares of PWC at $3.00 per option. As a
result, Mr. Taylor now holds 1,250,000 common shares of PWC, being
approximately 9.14% of the total issued and outstanding common shares of PWC.
Including 187,000 additional stock options held by Mr. Taylor, which if
exercised would result in an additional 187,000 common shares, that figure is
approximately 10.37%.

    Pacific & Western Credit Corp. operates primarily through its
wholly-owned subsidiary, Pacific & Western Bank of Canada, a Schedule 1
chartered bank. The Bank is a branchless financial institution with $1.3
billion in assets. The Bank was formed to provide 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, the Bank is
one of the most efficiently operating financial institutions in Canada. These
overhead savings translate into very competitive rates for our clients.

    To receive company news releases, please contact:
    Carla McPhee at, (519) 675-4204

For further information:

For further information: Investor Relations: 1-800-244-1509,; Public Relations & Media: Tel Matrundola,
Vice-President, (416) 203-0882,; Visit our website at:

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Pacific & Western Credit Corp.

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