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Western Financial Group Declares Dividends

High River, Alberta – May 22, 2008 (TSX – WES, WES.PR.A, WES.PR.B) – Western Financial Group (“the Company”) announced today that it will provide the following dividends:

Common Shares (WES): $0.01 per common share payable to the shareholders of record at the close of business on June 30, 2008, and payable on July 15, 2008.

Preferred Series 2: $3.375 per share payable to the shareholders of record at the close of business on June 30, 2008, and payable on July 15, 2008.

Preferred Series 3 (WES.PR.A): $3.375 per share payable to the shareholders of record at the close of business on June 2, 2008, and payable on June 17, 2008.

Preferred Series 4 (WES.PR.B): $3.375 per share payable to the shareholders of record at the close of business on June 2, 2008, and payable on June 17, 2008.

Western Financial Group is a leader in providing insurance, financial services and banking services in over 80 communities, to more than 400,000 individuals and businesses in Western Canada through its WFG Agency Network locations, its affiliated insurance brokers, Western Life Assurance Company and Bank West.

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 President
Western Financial Group
403-652-2663

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