Pacific & Western appoints new director

LONDON, ON, June 3 /CNW/ - Pacific & Western Credit Corp. (TSX:PWC) and its wholly owned subsidiary Pacific & Western Bank of Canada are pleased to announce that, at the recommendation of their Human Resources & Corporate Governance Committees, Colin Litton has been appointed as a new Director of Pacific & Western Credit Corp. and Pacific & Western Bank of Canada.

Mr. Litton is a Fellow of the Institute of Chartered Accountants of Ontario and a Fellow of the Association of Chartered Certified Accountants (United Kingdom), and he is a member of the South African Institute of Chartered Accountants. He is a retired partner of KPMG's Canadian, South African and Australian practices, and was for many years the National Director of KPMG's Banking and Finance Practice in Canada. Mr. Litton has served as an advisor to several professional and regulatory bodies. He is a Certified Director of the Institute of Corporate Directors (Canada), and brings with him a wealth of experience in banking and finance.

David Taylor, President & C.E.O. of Pacific & Western stated, "I am very pleased with the appointment of Colin Litton to the Boards of PWC and the Bank. Mr. Litton's extensive knowledge of banking and finance will provide additional strength to the Boards of Pacific & Western."

Pacific & Western Bank of Canada is wholly owned by Pacific & Western Credit Corp., whose shares trade on the TSX under the symbol PWC.

Investor Relations: Wade MacBain, Director, [phone], [email protected]; Public Relations & Media: Tel Matrundola, Vice-President, [phone], [email protected]

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