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Press Information:
Toronto - May 3, 2006

ACCORD FINANCIAL CORP.

Accord Announces Record First Quarter Earnings of $1,691,215

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 financial results for the quarter ended March 31, 2006. The financial figures 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 March 31
	2006	2005
Factoring volume (millions)	$ 371	$ 320
Revenue	$ 7,213,759	$ 5,867,576
Net earnings	$ 1,691,215	$1,133,901
Earnings per share	0	0
Basic	$ 0.17	$ 0.11
Diluted	$ 0.17	$ 0.11
Weighted average number of shares	0	0
Basic	9,930,806	9,875,571
Diluted	10,085,791	10,112,239

Net earnings were a first quarter record high increasing by 49% to $1,691,215 compared to $1,133,901 in the first quarter of 2005 on substantially increased factoring volume and revenue. Diluted earnings per share increased by 55% to 17 cents in the quarter compared to 11 cents last year.

Factoring volume, also a first quarter record, rose by 16% to $371 million in the quarter compared to $320 million last year. Revenue increased by 23% to $7,213,759 compared to $5,867,576 last year. Revenue rose at a higher rate than volume as a result of an increase in proportion of higher yielding recourse factoring and somewhat higher yields.

Commenting on the first quarter’s results, Ken Hitzig, the Company’s President, notes that, “the Company is extremely pleased with the record performance achieved in the first quarter of 2006 after a challenging 2005. The Company ended the first quarter with gross outstanding receivables and loans of $91 million, a quarter-end record high. We are optimistic about our prospects for the balance of 2006.”

As previously advised, the Company’s Board of Directors recently declared a regular quarterly dividend of $0.045 per share, payable June 1, 2006, to shareholders of record May 15, 2006.

For further information please contact:

Stuart Adair
Chief Financial Officer
Accord Financial Corp.
77 Bloor Street West, 18th floor
Toronto, Ontario
M5S 1M2

(416) 961-0304 Ext. 207
info@accordfinancial.com

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