Kingsway International Appoints New Director

TORONTO , Sept. 28 /CNW/ - Kingsway International Holdings Limited (TSX: KIH), an Asian based financial services firm, is pleased to announce the appointment of Terence Parry Scandrett to its Board of Directors.

Mr. Scandrett is currently the Chairman of Greycons Limited, a privately held financial consulting and advisory services firm. A Chartered Accountant, prior to joining Greycons he spent 19 years at Ernst & Young Canada ("EYC"), holding such positions as a Senior Audit Partner and Partner-in-Charge of EYC's Hong Kong office. After leaving private practice accounting, Mr. Scandrett served as Chief Financial Officer of ASAT Holdings Limited, a NASDAQ listed, global provider of semiconductor assembly, test and package design services, where he also sat on the company's Board of Directors. In addition, he served as the Group Finance Director and Director of a company listed on the Stock Exchange of Hong Kong , which is engaged in the manufacture and distribution of electronic products and components, trading of audio & video products and licensing of trademarks. The appointment of Mr. Scandrett is subject to the receipt of TSX approval.

"On behalf of the Board of Directors, I would like to welcome Mr. Scandrett to the Kingsway International team, where his wealth of experience in international business will be put to excellent use at this critical yet exciting juncture in the company's growth," said Jonathan Choi , Chairman of the Board of Directors of Kingsway International. "The addition of yet another experienced market participant, with a background in both finance and accounting and hands on experience in both North America and Asia will greatly benefit the company as we complete the transition from a holding company to an operating entity."

About Kingsway International Holdings Limited

The Company is listed on the main board of the Toronto Stock Exchange (TSX) under the symbol KIH. The Group is a middle tier financial services provider, linking the global investment community with PRC's high growth economy. In addition to engaging in proprietary investment activities, the Group offers a variety of complementary, client focused services through its capital markets and asset management divisions.

Founded in 1990, the Group operates from offices in Hong Kong , Beijing , Shanghai , Shenzhen and Toronto .

FORWARD-LOOKING (SAFE HARBOUR) STATEMENTS

This press release contains forward-looking statements that are based on the beliefs of Management and reflect the Group's current expectations. In certain cases, forward-looking information can be identified by the use of words such as "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may", "should", "will", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, investors should not place undue reliance on forward-looking information. Forward-looking information is provided as of the date of this press release, and the Company assumes no obligation to update or revise them to reflect new events or circumstances.

For further information: Gary Quedado, Kingsway Group, [phone] Ext. 238, [email protected]