Pacific & Western to provide financing for certain EllisDon Infrastructure Ontario projects

    LONDON, ON, June 6 /CNW/ - David Taylor, President & C.E.O. of Pacific &
Western Credit Corp. (TSX:PWC), is pleased to announce that Pacific & Western
Credit Corp.'s wholly owned subsidiary, Pacific & Western Bank of Canada, has
reached an agreement with EllisDon Corporation to act as its construction
financing partner for certain Ontario public hospital projects which are the
subject of a public bid process adjudicated by Infrastructure Ontario, the
procurement arm of the Province of Ontario, should such projects be awarded to
EllisDon. Mr. Taylor stated that "We are pleased to be teamed up with
EllisDon, one of Canada's leading construction companies, to provide a
complete financing and construction package to meet the needs of the Ontario
Government. Providing low cost financial solutions to the public sector is one
of the reasons the Bank was created."

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

For further information:

For further information: Investor Relations: Bruce Schruder, Vice
President, Investor Relations & Marketing, (800) 244-1509,; Public Relations & Media: Tel Matrundola, Vice
President, Public & Strategic Initiatives, (416) 203-0882,; To
receive company news releases via e-mail: Karen McConnell, (519) 675-4204,; Further information on PWC is available through Pacific &
Western's corporate web site at

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Pacific & Western Credit Corp.

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