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Press Information:
Toronto - October 27, 2004

ACCORD FINANCIAL CORP.

Accord Posts Higher Third Quarter and Nine Months' Earnings
and Declares Regular Quarterly Dividend

Accord Financial Corp. (TSX – ACD), a leading North American provider of asset-based financial services to businesses, including factoring, financing, credit investigation and guarantees, is pleased to announce its unaudited consolidated financial results for the three and nine months ended September 30, 2004. The financial figures presented in this release are reported in Canadian dollars in accordance with Canadian generally accepted accounting principles.

SUMMARY OF FINANCIAL RESULTS

	Three Months Ended		Nine Months Ended
	September 30		September 30
	2004	2003	2004	2003
Factoring volume (millions)	$ 419	$ 384	$ 1,131	$ 1,063
Revenue	$ 6,948,035	$ 6,577,426	$ 20,223,574	$ 19,054,937
Net earnings	$ 1,697,971	$ 1,538,885	$ 4,852,606	$ 3,786,889
Earnings per share
Basic	$ 0.17	$ 0.16	$ 0.50	$ 0.40
Diluted	$ 0.17	$ 0.16	$ 0.49	$ 0.39
Weighted average number of shares
Basic	9,837,926	9,554,414	9,760,445	9,534,309
Diluted	10,063,161	9,629,969	9,982,665	9,598,742

Net earnings for the third quarter of 2004 increased by 10% to $1,697,971 compared to $1,538,885 last year. Diluted earnings per share were 17 cents for the quarter compared to 16 cents last year.

Factoring volume in the third quarter was a company record $419 million, a 9% increase over last year’s third quarter volume of $384 million. Revenue rose by 6% to $6,948,035 compared to $6,577,426 last year.

Net earnings for the nine months ended September 30, 2004 increased by 28% to $4,852,606 compared to $3,786,889 in the same period of 2003. Diluted earnings per share for the current nine months improved to 49 cents compared to 39 cents last year. Last year’s net earnings were affected by the $440,000 after tax impact of a provision for settlement of a claim.

Factoring volume for the current nine months rose by 6% to $1,131 million compared to $1,063 million last year. Revenue also increased by 6% to $20,223,574 compared with $19,054,937 last year.

The Company's Board of Directors today declared a regular quarterly dividend of $0.045 per share, payable December 1, 2004 to shareholders of record at the close of business November 15, 2004.

For further information please contact:

Stuart Adair
Chief Financial Officer
Accord Financial Corp.
77 Bloor Street West, 18th floor
Toronto, ON M5S 1M2
(416) 961-0304 Ext. 207
info@accordfinancial.com

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