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Western Financial Group announces listing of first preferred shares, series 2

High River, Alberta, December 18, 2009 - Western Financial Group Inc. ("Western Financial Group" or the "Company") is pleased to announce that its first preferred shares, series two (the "Series Two Preferred Shares") have been listed for trading on the Toronto Stock Exchange. Trading under the ticker symbol of "WES.PR.D" will commence today.

The outstanding common shares, first preferred shares, series three, first preferred shares, series four and first preferred shares, series five are listed for trading on the Toronto Stock Exchange under the trading symbols "WES", "WES.PR.A", "WES.PR.B" and "WES.PR.C", respectively.

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 wholly owned network of offices, its affiliated insurance brokers, Western Life Assurance Company, Bank West and SecuriCan General Insurance Company.

For more information on Western Financial Group, please visit www.westernfinancialgroup.ca, or contact:

Arlene Beggs, Assistant to the President
Western Financial Group