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Press Information: 
Toronto - May 4, 2005

ACCORD FINANCIAL CORP.

Accord Announces First Quarter Results

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 lending, financing, collection services, credit investigation, credit protection and guarantees, is pleased to announce its interim unaudited consolidated financial results for the quarter ended March 31, 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.

Factoring volume declined by 10% to $320 million in the first quarter of 2005 compared to the record first quarter volume of $357 million achieved last year. As a result, revenue also declined by 10% to $5,867,576 compared to $6,501,844 last year. Partly offsetting the decrease in revenue was a decrease in expenses, principally the provision for credit and loan losses.

Net earnings for the first quarter declined to $1,133,901 compared to $1,317,063 last year on the decrease in factoring volume and revenue. Diluted earnings per share declined to 11 cents compared to 13 cents last year. It is noted that as a result of the payment of a special dividend of $14.6 million on July 2, 2004, interest expense for the current quarter was approximately $175,000 higher than it would otherwise have been and net earnings approximately $110,000 lower than had the dividend not been paid.

As previously advised, the Company’s Board of Directors declared a regular quarterly dividend of $0.045 per share, payable June 1, 2005, to shareholders of record May 13, 2005.

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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