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Press Information: ACCORD FINANCIAL CORP. Accord Announces Normal Course Issuer Bid Toronto, August 1, 2007: 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, today announced that the Toronto Stock Exchange (the “TSX”) has accepted for filing a Notice of Intention to Make a Normal Course Issuer Bid (the “Bid”). Pursuant to this Bid, the Company may purchase up to 474,723 common shares during the next 12 months being 5% of the 9,494,471 issued and outstanding common shares as at July 31, 2007. Any shares purchased pursuant to the Bid will be cancelled. All purchases will be made through facilities of the TSX and in accordance with the TSX’s rules and policies. Pursuant to TSX policies, daily purchases made by the Company will not exceed 1,000 common shares, subject to a prescribed exception which allows for one block purchase per calendar week. The Bid will commence on August 8, 2007 and terminate on the earlier of the date on which the Company completes its purchases pursuant to the Bid or August 7, 2008. Under the Company’s existing Bid, which commenced August 8, 2006 and expires August 7, 2007, 321,700 shares have been repurchased for cancellation at an average price of $7.62 for a total consideration of $2,451,975. The Company believes that it may be advantageous to engage in repurchases of its common shares, from time to time, when they are trading at prices which the Company believes reflect a discount from the underlying value of its common shares.
For further information please contact: Stuart Adair (416) 961-0304 Ext. 207
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