The Stilwell Group Withdraws Requisition for Kingsway Financial Services (KFS) Special Shareholders Meeting

    NEW YORK, Feb. 10 /CNW/ - The Stilwell Group has withdrawn its
requisition for a special shareholders meeting for Kingsway Financial Services
("Kingsway"), having reached an understanding to provide for the retirement of
certain directors at the annual general meeting in April 2009.
    Joseph Stilwell said, "We are happy to be moving forward with what will
be a reconstituted board. I believe the board will act as owners. This means
selling or running off all non-core lines of business; this means lowering
risk; this means using the freed-up capital to repurchase debt and equity; and
this means making our remaining business efficient and profitable. I believe I
can now work with the board to achieve these goals."

    The Stilwell Group is a New York-based money management firm which
currently owns 4,975,000 or 9% of Kingsway's outstanding shares of common
stock. The Stilwell Group is keenly interested in seeing Kingsway quickly
reduce costs, focus on its core businesses, and increase long-term shareholder

For further information:

For further information: Questions may be directed to: Wes Hall,
President and CEO, Kingsdale Shareholder Services Inc., (416) 867-2342;
Suzanne Griffin, Director of Communications, The Stilwell Group, 26 Broadway,
23rd floor, New York, NY, 10004, (212) 269-1551

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