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Press Information:
Toronto - July 27, 2005

ACCORD FINANCIAL CORP.

Accord Announces Second Quarter and First Half Earnings, Declares Regular Quarterly Dividend and Announces Intention to Pursue Normal Course Issuer Bid

Accord Financial Corp. (TSX – ACD), a leading North American provider of a wide range of factoring and other asset-based financial services to businesses, including financing, collection services, credit investigation, credit protection and guarantees, is pleased to announce its interim unaudited consolidated financial results for the three and six months ended June 30, 2005. The financial results presented in this release are reported in Canadian dollars and have been prepared in accordance with Canadian generally accepted accounting principles.

SUMMARY OF FINANCIAL RESULTS
	Three Months Ended June 30		Three Months Ended June 30
	2005	2004	2005	2004
Factoring volume (millions)	$ 333	$ 354	$ 653	$ 711
Revenue	$ 6,554,383	$ 6,773,695	$ 12,421,959	$ 13,275,539
Net earnings	$ 1,280,286	$ 1,837,572	$ 2,414,187	$ 3,154,635
Earnings per share
Basic	$ 0.13	$ 0.19	$ 0.24	$ 0.32
Diluted	$ 0.13	$ 0.18	$ 0.24	$ 0.32
Weighted average number of shares
Basic	9,925,167	9,752,871	9,900,369	9,721,705
Diluted	10,108,606	10,037,412	10,110,423	9,942,418

Net earnings for the second quarter of 2005 decreased to $1,280,286 compared with last year’s record $1,837,572. Earnings declined largely due to lower revenue and an increase in the provision for credit and loan losses. Diluted earnings per share fell to 13 cents compared to 18 cents last year.

Factoring volume declined 6% to $333 million in the second quarter compared to the record $354 million last year. Revenue fell by 3% to $6,554,383 from $6,773,695 as the proportion of higher yielding recourse factoring rose this year.

Net earnings for the first half of 2005 decreased to $2,414,187 compared with $3,154,635 in 2004. Diluted earnings per share were 24 cents compared to 32 cents last year.

Factoring volume for the first half of 2005 declined 8% to $653 million. Total revenue decreased 6% to $12,421,959.

The Company’s Board of Directors today declared a regular quarterly dividend of $0.045 per share, payable September 1, 2005 to shareholders of record August 15, 2005. The Board considers the current price of the Company’s shares to be undervalued and resolved, subject to regulatory approval, to purchase up to 5%, or approximately 500,000, of its shares for cancellation by way of a Normal Course Issuer Bid.

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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