Pacific & Western Arranges Financing for $214 million Sarnia Bluewater Hospital

LONDON, ON, Oct. 4 – 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 (the “Bank”), has arranged the financing for the construction by EllisDon Corporation of the Bluewater Health Capital Redevelopment Project in Sarnia, Ontario under Infrastructure Ontario’s Alternative Financing and Procurement Program. This financing was arranged with the assistance of the Gwich’in Tribal Council, an aboriginal organization that represents the Gwich’in in the Mackenzie-Delta of the Northwest Territories.David Taylor stated that, “We are pleased to be able to provide economical financing for the Bluewater hospital in Sarnia and work with EllisDon to facilitate a win-win solution for health care in Canada.”

Fred Carmichael, President of the Gwich’in Tribal Council, stated that, “the Gwich’in Tribal Council is delighted to be in a position to assist with the financing of this project. The revenue from this financing will be used to assist with funding a wellness centre for the Gwich’in on the banks of the Mackenzie River.”

Pacific & Western Bank of Canada, a Schedule 1 chartered bank, is a branchless financial institution with $1.3 billion in assets. The Bank was formed to provide innovative financing to large corporate and government entities including hospitals, school boards, universities and colleges, municipalities and provincial and federal government agencies. With no retail operations or store fronts, the Bank is one of the most efficiently operating financial institutions in Canada. These overhead savings translate into very competitive rates for our clients.

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

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Further information on PWC is available through Pacific & Western’s corporate web site at http://www.pwbank.com.

For further information: Investor Relations: Bruce Schruder, Vice President, Investor Relations & Marketing, 1-800-244-1509, InvestorRelations@pwbank.com; Public Relations & Media: Tel Matrundola, Vice President, Public & Strategic Initiatives, (416) 203-0882, telm@pwbank.co