E-L Financial Corp Ltd
			Symbol			ELF
			Shares Issued			4,019,409
			Close 2009-09-24			C$ 460.00
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E-L Financial adds to Algoma Central holdings

2009-09-24 18:31 ET - News Release

Mr. Duncan Jackman reports

E-L FINANCIAL CORPORATION LIMITED ANNOUNCES ACQUISITION OF COMMON SHARES OF ALGOMA CENTRAL CORPORATION

E-L Financial Corp. Ltd. has entered into a private agreement to acquire a further 519,188 common shares of Algoma Central Corporation from Scotia Investments Limited and its subsidiaries, increasing its ownership from 468,704 (12.05 per cent) of the common shares to 987,892 (25.39 per cent) of the common shares. E-L has an informal understanding with other shareholders of Algoma under which they act in concert with respect to the voting of securities of Algoma held by them. The purchase will increase the ownership of E-L and these other shareholders from 2,351,256 (60.42 per cent) of the common shares to 2,870,444 (73.76 per cent) of the common shares. The purchase price is $75.00 per common share. The 519,188 common shares represents all of the Algoma shares owned or controlled directly or indirectly by Scotia.

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