Anthony Clark International Insurance Brokers Ltd.: Anthony Clark Closes Financing

Calgary, Alberta CANADA, Jun 16, 2008 (M2 PRESSWIRE via COMTEX) -- FUIN | Quote | Chart | News | PowerRating -- Anthony Clark International Insurance Brokers Ltd. (ACL - TSX Venture), (the "Corporation") is pleased to announce it has closed secured debt financing arrangements with ING Insurance Company of Canada ("ING") whereby ING has agreed to provide a $10,000,000 term loan facility (the "Repayment Facility") along with a facility of $1,500,000 which is available for working capital purposes (the "Working Capital Facility"). The Repayment Facility is being used to: (i) repay in full the Corporation's debt owed to Brooke Canada Funding Inc.; and (ii) to pay down certain of the Corporation's (and its subsidiaries) debts owed to Aleritas Capital.

In addition, ING and the Corporation have closed an equity financing wherein ING purchased a minority interest in Anthony Clark Insurance Brokers Ltd., which is a recently incorporated subsidiary of the Corporation.

In addition, the Corporation expects to close the $4,500,000 ING loan facility (the "Acquisition Facility") to its subsidiary Anthony Clark Insurance Brokers Ltd. on or about June 20, 2008. The Acquisition Facility will be available to finance the potential future Canadian expansion projects and purchases of Canadian insurance brokerages.

These new financing facilities will significantly reduce the Corporation's interest and financing costs. The facilities have been fully guaranteed and secured by the Canadian assets of the Corporation and Anthony Clark Insurance Brokers Ltd.

Anthony Clark has expanded through internal growth and acquisitions and will be processing over $125 million in insurance premiums for its customers.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Except for the historical information contained herein, this press release contains statements that constitute forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that may cause or contribute to such differences include, among other things, the Company's ability to close the proposed transaction. Other risks and uncertainties include changes in business conditions and the economy in general, changes in governmental regulations, unforeseen litigation and other risk factors identified in the Company's public filings under "Risk Factors". The Company undertakes no obligation to update these forward-looking statements for revisions or changes after the date of this press release.

On behalf of ANTHONY CLARK INTERNATIONAL INSURANCE BROKERS LTD.

"Tony Consalvo"

Source: Anthony Clark International Insurance Brokers Ltd. (AC:-TSX.V) www.aclarkinsurance.com

CONTACT: Mr. Tony Consalvo, C.E.O. Anthony Clark International Insurance Brokers Ltd. Tel: +1 403 225 5100 Fax: +1 403 225 5745 e-mail: tony.consalvo@aclarkinsurance.com WWW: http://www.aclarkinsurance.com Filing Services Canada Inc. Tel: +1 403 717 3898 Fax: +1 403 717 3896 WWW: http://www.usetdas.com

M2 Communications Ltd disclaims all liability for information provided within M2 PressWIRE. Data supplied by named party/parties. Further information on M2 PressWIRE can be obtained at http://www.presswire.net on the world wide web. Inquiries to info@m2.com.

Morning Coffee with TradingMarkets -- Free Newsletter

More News:   Market Updates | Stock Alerts | All Trading News | Stock Index