Mr. Chris Williams reports

CWB ANNOUNCES ELECTION OF DIRECTORS

All nominees listed in the management proxy circular mailed to shareholders prior to the annual meeting have been elected as directors of Canadian Western Bank. Detailed results of the vote for the election of directors held yesterday at Canadian Western's annual meeting of common shareholders are set out in the attached table.

Election of directors

On a vote by ballot, each of the 10 nominees proposed by management was elected as a director of Canadian Western.

About Canadian Western Bank

Canadian Western is the only full-service financial institution in Canada with a strategic focus to meet the unique financial needs of businesses and their owners. It provides nationwide full-service business and personal banking, specialized financing, comprehensive wealth management offerings, and trust services. Its teams deliver a uniquely pro-active and differentiated level of service to clients in targeted industries where Canadian Western has deep expertise. Clients choose Canadian Western for its highly personalized service, specialized expertise, customized solutions and faster response times.

As a public company on the Toronto Stock Exchange, Canadian Western trades under the symbols CWB (common shares), CWB.PR.B (Series 5 preferred shares) and CWB.PR.D (Series 9 preferred shares). Canadian Western is firmly committed to the responsible creation of value for all its stakeholders and its approach to sustainability will support its continued success.