Western Financial Group Preferred Series 4 Revised Pro-rated Per Share Dividend Payment

High River, Alberta – May 27, 2008 (TSX – WES, WES.PR.A, WES.PR.B) – Western Financial Group (“the Company”) announced May 22, 2008 that it will provide the first dividend payment on the Preferred Series 4 (WES.PR.B) at $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. The Preferred Series 4, were issued on December 28, 2007. The first dividend payment will be at a pro-rated amount of $2.877 per share.

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”.

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For further information, please contact:
Arlene Beggs, Assistant to the President
Western Financial Group
403-652-2663