Wall Financial Corporation - News Release

    VANCOUVER, Dec. 12 /CNW/ - Wall Financial Corporation (the "Company")
released today its operating results and financial statements for the third
quarter ended October 31, 2007 and 2006. The Company recorded net earnings of
$23,312,266 or $0.73 per share and earnings before interest, income tax, and
depreciation and amortization (EBITDA), and non-controlling interest of
    Net earnings for the three months ended October 31, 2007 were $3,395,567
or $0.11 per share compared to $4,062,591 or $0.13 per share for the same
quarter last year.
    Revenues for the nine months ended October 31, 2007 were $179,070,615
compared to $89,770,743 in 2006 primarily due to real estate sales at Tower 3
of Yaletown Park which are now 100% complete. In addition, hotel revenues were
$44,277,545 compared to $43,309,460, an increase of $968,085 or 2% due to
higher room rates.

                                                 October 2007   October 2006
                                                 ------------   ------------
    Revenue and other income                     $179,175,375    $89,845,095
    Net earnings                                   23,312,266      9,619,129
    Net earnings per share                               0.73           0.30

    Total assets                                 $370,440,914   $401,279,303

    %SEDAR: 00002080E

For further information:

For further information: Bruno Wall, President, WALL FINANCIAL
CORPORATION (TSX:WFC), 3502 - 1088 Burrard Street, Vancouver, British
Columbia, V6Z 2R9, (604) 893-7131

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