Coast Capital Signs Worldsource as Mutual Funds Dealer

Deal will strengthen TSX-traded Guardian Capital's presence in Western Canadian market

VANCOUVER - Coast Capital Savings is teaming up with Worldsource Financial Management Inc., one of Canada's leading mutual fund dealers, as part of a joint strategy to enhance Coast Capital's offerings to investors and grow Worldsource's market presence in Western Canada. The agreement between Coast Capital and Worldsource received regulatory approval from the Mutual Fund Dealers Association on April 28, 2008.

The agreement further positions Worldsource Financial Management - a subsidiary of the TSX-traded Guardian Capital Group Limited with more than 500 independent mutual fund representatives and over $5 billion in assets under administration - as a leading independent mutual fund dealer.

"This alliance is a plus not just for Coast Capital Savings, Worldsource and customers, but also for the credit union system, as it brings a strong new player to the scene and opens the market to choice and healthy competition when it comes to mutual fund dealer services," said Lloyd Craig, President and CEO, Coast Capital Savings. "Coast Capital customers will benefit from our new relationship with Worldsource, and through them Guardian Capital, and we expect the company will serve as an additional option for credit unions looking to improve their services to members and grow their business."

Under the deal, Worldsource Financial Management Inc.'s sister company, Worldsource Insurance Network Inc., will also provide life insurance services to Coast Capital Savings. Coast Capital will continue to offer advice and service related to mutual funds and life insurance through its investment professionals located across its branch network, but will rely on Worldsource's advanced back-office support system and resources.

"Worldsource has built a strong brand in Eastern Canada and the partnership with Coast Capital provides the opportunity for us to align with another leading brand in Western Canada to strengthen our leadership and experience in this important market," said Paul Brown, Chairman and CEO of Worldsource Financial Management and President, Worldsource Insurance Network. "Hundreds of independent advisors have come to trust and depend on our state-of-the-art technology, research and portfolio analysis, and enhanced processes and we'll be bringing the same strengths to Coast Capital and the B.C. market."

Mike Bushore, Coast Capital's Chief Innovation Officer, said the partnership promises both short- and longer-term benefits for the credit union and its customers.

"It allows us to cost-efficiently upgrade our back-office technology to a level that's among the best in the country while harnessing Worldsource's practice management skills to better serve our customers," said Bushore. "Worldsource's links with Guardian Capital will also allow us to explore future opportunities in product customization and distribution by working with one of the leaders in the industry."