Western Financial Group Announces New Acquisitions

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High River, Alberta � October 13, 2006 (TSX � WES, WES.DB.A) Western Financial Group (�the Company�) announced today that it has recently completed two additional acquisitions of insurance brokerages in Southern Alberta.

Willow Creek Agencies is a well established firm in Claresholm, Alberta, a growing community on the Highway 2 corridor, one hour south of Calgary. The office provides home, auto, farm and small commercial insurance products and services to customers throughout the Claresholm trading area.

�We are pleased to welcome Brian Smith and his team to the Western Financial Group family� said Scott Tannas, WFG President and CEO. �Claresholm is an important community in southern Alberta, and we look forward to having the opportunity to build on the very successful base of business that exists today at Willow Creek Agencies. We expect Claresholm customers will be impressed with the additional depth and breadth of products that are now available through their local Western Financial Group office.�

Thomsen Fisher Agencies in Medicine Hat, Alberta, is one of the leading insurance brokers in Southern Alberta, offering a wide range of insurance services, with strength in commercial and agri-business products. The addition of Thomsen Fisher will provide a second office location for Western Financial Group in Medicine Hat, complimenting Gateway Agencies� strong presence. Through the two locations, Western Financial Group is now firmly established as market leader in the community.

�We are pleased to have Thomsen Fisher on board,� said Scott Tannas. �They have a long and distinguished history in the community, and an excellent reputation in the insurance business in Alberta. Darren Visosky, Glenn Tiller, and the 26 members of the Thomsen Fisher team operate one of the province�s best and most profitable insurance operations. They will add expertise in several areas to the benefit of our entire network.�

As Alberta�s 7th largest city, Medicine Hat is one of the drivers of the province�s growth, functioning as an important center for oil and gas production and transmission, as well as transportation, and agri-business.

Western Financial Group is one of the leading western-based financial service companies in Western Canada. With offices in towns and small cities across the West, the Company provides more than 250,000 customers with insurance, investment and banking products through WFG Agency Network, Western Life and Bank West.

The Common Shares of Western Financial Group are traded on the Toronto Stock Exchange under the symbol �WES�.

About Western Financial Group

Western Financial Group is a leading financial services organization with a focus on �small town� Western Canada (British Columbia, Alberta, Saskatchewan and Manitoba). Since our initial public offering in 1996, we have created a strong regional financial services company providing more than 250,000 customers with a full range of financial products and services under a unified and recognizable brand. For more information visit www.westernfinancialgroup.net