Pacific & Western extends maturity date on Series C Notes to 2018

    LONDON, ON, June 12 /CNW/ - David Taylor, President & C.E.O. of Pacific &
Western Credit Corp. (TSX:PWC), is pleased to announce that Pacific & Western
Credit Corp. will be extending the maturity date of its 9% Series C Notes
(TSX: PWC.NT.C) from October 16, 2008 until October 16, 2018.
    On June 12, 2008, PWC held a meeting of its Series C Noteholders.
Approximately 54% of votes were cast at the meeting. With the support of
approximately 95% of the voting Noteholders, extraordinary resolutions were
passed that approved a 10 year extension of the 9% Series C Notes to October
16, 2018 and an increase in the number of Notes that PWC can issue from
$22,689,000 to $100,000,000. PWC plans to issue additional Notes, as required,
to fund growth in its securities and loan portfolio.

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