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Kingsway International Announces Change of Auditor

^{Published on 2009-08-04 17:05:34, Last Modified on 2009-08-04 17:05:43 - Market Wire}
 

 TORONTO, Aug. 4 /CNW/ - The Board of Directors of Kingsway International Holdings Limited ("Kingsway" or the "Company") (TSX: KIH) announced today that KPMG LLP, Chartered Accountants ("KPMG"), resigned as auditor of the Company and that Deloitte Touche Tohmatsu ("Deloitte") has been appointed as the Company's successor auditor. The resignation of KPMG and the appointment of Deloitte as the successor auditor have been approved by the Audit Committee and the Board of Directors of the Company. There were no reservations in the former auditor's reports for the two most recently-completed fiscal years or for any period subsequent to the most recently-completed period for which an audit report was issued and preceding the date of the former auditor's resignation. There were no reportable events between the Company and KMPG or between the Company and Deloitte. In accordance with all regulatory requirements, Kingsway has filed a Notice of Change of Auditor ("Notice") and has received a response letter from KPMG, the former auditor, confirming their agreement with the information provided in the Notice. The Company has also received a response from Deloitte, the successor auditor, confirming their agreement with the information provided in the Notice. Kingsway would like to thank KPMG for their services. About Kingsway International Holdings Limited The Company is listed on the main board of the Toronto Stock Exchange (TSX) under the symbol KIH. The Group is a middle tier financial services provider, linking the global investment community with PRC's high growth economy. In addition to engaging in proprietary investment activities, the Group offers a variety of complementary, client focused services through its capital markets and asset management divisions. Founded in 1990, the Group operates from offices in Hong Kong, Beijing, Shanghai, Shenzhen and Toronto. FORWARD-LOOKING (SAFE HARBOUR) STATEMENTS This press release may contain forward-looking statements that are based on the beliefs of Management and reflect the Group's current expectations. In certain cases, forward-looking information can be identified by the use of words such as "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may", "should", "will", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, investors should not place undue reliance on forward-looking information. Forward-looking information is provided as of the date of this press release, and the Company assumes no obligation to update or revise them to reflect new events or circumstances. 

For further information: Gary Quedado, Kingsway Group, (416) 861-3099 Ext. 238, [ gquedado@kingswaygroup.ca ]