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Pacific &; Western Credit Corp. Announces Results of Special Meetings

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^{Published in Business and Finance on Monday, June 29th 2009 at 8:56 GMT, Last Modified on 2009-06-29 08:56:29 by Market Wire}  

 LONDON, ON, June 29 /CNW/ - Pacific & Western Credit Corp. (TSX:PWC) wishes to announce that at the Special Meetings of the Common Shareholders, Series A Noteholders and Series C Noteholders held on June 26, 2009, the resolution authorizing the creation of the Class "B" Preferred Shares and the resolutions authorizing the conversions of the Series A Notes and Series C Notes into the new Class "B" Preferred Shares were passed by an overwhelming majority. The conversion of Series A Notes into Series C Notes was also authorized. Conversion materials are being mailed out this week and must be received by Computershare by August 28, 2009. The effective date of conversions is August 31, 2009. All conversions are strictly voluntary. As quorum was not present for the Special Meeting of Class "A" Preferred Shareholders, the meeting has been adjourned until Monday, July 27, 2009 at 10:00 a.m. at The London Club, 177 Queens Avenue, London, Ontario. Additional material relating to the Special Meetings can be found on SEDAR at [ www.sedar.com ] and at our website at[ http://pwbank.com/investor/meetings ]. Pacific & Western Credit Corp.'s shares trade on the TSX under the symbol PWC. To receive company news releases, please contact: Carla McPhee at [ carlam@pwbank.com ], (519) 675-4204

For further information: Investor Relations: (800) 244-1509, [ InvestorRelations@pwbank.com ]; Public Relations & Media: Tel Matrundola, Vice-President, (416) 203-0882, [ telm@pwbank.com ]; Visit our website at [ http://www.pwbank.com ]