Libro Financial Group Shows its Commitment to London's Core<BR>by Relocating Head Office and Contact Centre

London, ON-Libro Financial Group is pleased to announced the purchase of 217 York Street for its corporate offices. Libro's administration staff and contact centre will occupy the fourth floor and a part of the first floor. The move is anticipated in the fall of 2008. Libro's current corporate offices are located at 167 Central Avenue and 164 Albert Street. Libro's London Downtown branch will remain at 167 Central Avenue.

"Libro has enjoyed tremendous growth over the last number of years and we're bursting at the seams where we are now," says Rick Hoevenaars, VP Finance at Libro. "As we continue to grow, the move to 217 York gives us lots of flexibility to provide space for administration and contact centre staff. It'll be great to have everyone under one roof again!"

Libro has been growing at a strong rate for the last decade and achieved record growth in fiscal 2007. Libro exceeded its key sales target by 20% with new product sales of $539 million.

"Libro is a community credit union and we know the importance of healthy and vibrant communities - we only prosper if our communities do. So in addition to the local events we sponsor and our Community Builder grants program, we're really pleased to be able to make such a significant investment in London," says Libro President and CEO Jack Smit. "We've been part of London's downtown for 60 years and we're looking forward to being here for another 60!"

Reaction from local leaders has been very positive:

"The purchase of a downtown building for Libro Financial Group's new corporate headquarters on York St. is a testament to their commitment, not only to the downtown core, but to the London community as a whole. Libro's growth in London demonstrates the continued strength in our financial services sector and we look forward to continuing to support them in the future."

- Peter White, President of the London Economic Development Corporation

"London welcomes Libro to this new Downtown location. Libro's expansion supports the economic stability of the business community and the growing downtown neighbourhood."

- Judy Bryant, London City Councillor, Ward 13, including the Downtown

"An investment like this from a corporation as large and respected as Libro Financial Group supports the city's investment in the downtown and will act as a catalyst for other businesses to invest in the core. The Chamber is delighted to see investment migrating to the core of the city."

- Gerry Macartney, CEO and General Manager, The London Chamber of Commerce

"MainStreet London and the London Downtown Business Association welcome Libro to Downtown London! It is a definite sign that downtown is headed in the right direction when fine institutions such as Libro are confident to make such a large investment here!"

- Janette MacDonald, Manager, MainStreet London.

Libro Financial Group is southwestern Ontario's full-service financial institution operated by a community of owners and open to everyone. With 50,000 owners and more than $1.4 billion in assets under administration, Libro delivers a full range of chequing, savings, investment, RRSP, insurance and loan products along with financial coaching and advice for consumers, and farm and business owners. For more information, see www.libro.ca.

For further information, contact:

Harry Joosten, Vice President Owner Relations, Libro Financial Group
Phone: 519.672.0130 x322; Cell: 519.878.4236
E-mail: harry.joosten@libro.ca