Mr. Ed Sonshine reports

CHESSWOOD GROUP LIMITED ANNOUNCES BOARD UPDATE

Chesswood Group Ltd.'s Jeff Fields has resigned from the board of directors in order to focus on his newly assumed role at an alternative investment advisory firm.

"We thank Jeff for his valuable contributions to Chesswood, and wish him well in his future endeavours," said Ed Sonshine, Chesswood's chairman.

About Chesswood Group Ltd.

Chesswood Group is a Toronto-based holding company whose subsidiaries engage in the business of specialty finance (including equipment finance throughout North America and vehicle finance and legal sector finance in Canada), as well as the origination and management of private credit alternatives for North American investors.