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Western Financial Group Confirms Date For Year-End 2009 Results and Issues 2010 Objectives

High River, Alberta – February 4, 2010 (TSX – WES) Western Financial Group (“the Company”) today confirmed their intention to release their 2009 financial results on Monday, March 15, 2010. A conference call to discuss the year end will be held at 9:00 am MST (11:00 am EST) on Wednesday, March 17th. To access the conference call, please dial (888) 231-8191 or (647) 427-7450 (Toronto). The conference will also be broadcast live over the internet and archived through the Company's website at www.westernfinancialgroup.ca.

Also today, the Company released its 2010 objectives:

  • Network Same Store Sales: 4%-7%

  • Network Operating Margin: 28%

  • Bank West Specific Provision: 75 BPS or less

  • SecuriCan Loss Ratio: 55% or less

  • Western Life Loss Ratio: 45% or less

  • Overall 2010 Net Income: $18.5-20 Million

Western’s CEO Scott Tannas said “We are cautiously optimistic about 2010. While signs of growth have been emerging in many communities, we still see areas of the West that are not yet moving forward.

Therefore, we believe that same store sales growth in 2010 will be modest at the Network. We expect a good year ahead for Western Life in top and bottom line growth. At Bank West, we believe that credit quality will steadily improve from levels sustained in the second half of 2009.”

Western Financial Group is a leader in providing insurance, financial services and banking services in over 90 communities, to more than 500,000 individuals and businesses in Western Canada through its Network locations, its affiliated insurance brokers, Western Life Assurance Company, Bank West, and
SecuriCan General Insurance Company.

The Common Shares of Western Financial Group are traded on the Toronto Stock Exchange under the symbol “WES”.
This press release is not for distribution to any United States news service or otherwise in the United States.


For further information, please contact:
Arlene Beggs, Assistant to the CEO
Western Financial Group
403-652-2663
info@westernfg.ca

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