CWB to Hold Special Meetings of Common and Preferred Shareholders

CWB to Hold Special Meetings of Common and Preferred Shareholders 
EDMONTON, ALBERTA -- (Marketwired) -- 11/15/13 -- Canadian Western
Bank (TSX:CWB) today put forth a special resolution to be voted upon
at special meetings of common and preferred shareholders. The special
resolution will amend CWB's By-law Three to permit an unlimited
number of First Preferred shares to be issued, up to an aggregate
consideration of $1.0 billion for all First Preferred shares
outstanding at any time. CWB has reached the maximum number of
authorized preferred shares under the existing By-law Three and is
currently unable to issue additional preferred shares.  
Banks are required by federal law to maintain minimum regulatory
capital ratios. CWB's currently outstanding preferred shares
constitute part of this capital. On April 30, 2014, the dividend
yield on these shares will reset to a rate of 500 basis points over
the yield on the applicable Government of Canada benchmark security
unless the shares are redeemed. In consideration of the current
capital market environment and the investment grade credit rating on
CWB's outstanding preferred shares, management and the Board of
Directors believe it is in the best interest of CWB to redeem these
shares, subject to approval of the Office of the Superintendent of
Financial Institutions (OSFI). In order to maintain its regulatory
capital ratios, CWB will be required to issue replacement capital
prior to the redemption of the outstanding preferred shares. Without
an amendment to By-law Three, CWB only has the ability to issue
common shares as replacement capital. 
The special meetings are scheduled to be held concurrently on
December 12, 2013 at 11:00 a.m. (Mountain Standard Time) in the
Western Room of Canadian Western Bank Place, located at 10303 Jasper
Avenue in Edmonton, Alberta. The results of the voting on the special
resolutions will be posted following the meetings on CWB's website at and under CWB's profile on SEDAR at  
About Canadian Western Bank Group 
Canadian Western Bank offers a full range of business and personal
banking services across the four western provinces and is the largest
publicly traded Canadian bank headquartered in Western Canada. The
Bank, along with its operating affiliates, National Leasing Group
Inc., Canadian Western Trust Company, Canadian Direct Insurance
Incorporated, Valiant Trust Company, Adroit Investment Management
Ltd., McLean & Partners, and Canadian Western Financial Ltd.,
collectively offer a diversified range of financial services across
Canada and are together known as the Canadian Western Bank Group. The
common shares of Canadian Western Bank are listed on the Toronto
Stock Exchange under the trading symbol "CWB". The Bank's Series 3
Preferred Shares trade on the Toronto Stock Exchange under the
trading symbol "CWB.PR.A". Refer to for additional
Canadian Western Bank
Kirby Hill, CFA
Vice President, Strategy & Communications
(780) 441-3770 
Canadian Western Bank
Tracey Ball, FCA
Executive Vice President & CFO
(780) 423-8865
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