Western Financial Group Q Financial Results Conference Call November 13, 2006

Forward-Looking Statements This presentation contains certain forward-looking statements. Forward-looking statements include, without limitation, statements regarding the future financial position, business strategy, budgets, litigation, projected costs, capital expenditures, financial results, taxes and plans and objectives of or involving Western Financial Group Inc. (the “Company”) or its subsidiaries. Many of these statements can be identified by looking for words such as ‘‘believe’’, ‘‘expects’’, ‘‘expected’’, ‘‘will’’, ‘‘intends’’, ‘‘projects’’, ‘‘anticipates’’, ‘‘estimates’’, ‘‘continues’’ or similar words. The Company believes the expectations reflected in such forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements should not be unduly relied upon. Forward- looking statements are not guarantees of future performance and involve a number of risks and uncertainties only some of which are described herein. Many factors could cause the Company’s actual results, performance or achievements to, or future events or developments to, differ materially from those expressed or implied by the forward-looking statements, including, without limitation, the risk factors, which are discussed in greater detail in the ‘‘Risk Factors’’ section of the prospectus. Any forward-looking statements are made as of the date hereof and the Company does not assume any obligation to publicly update or revise such statements to reflect new information, subsequent events or otherwise. Non-GAAP Measures Throughout this presentation, the Company may use the term ‘‘operating income’’ to refer to earnings, including investment income, before interest expense, taxes, depreciation and amortization of intangible and capital assets, excluding gain (loss) from the sale of assets and income (loss) from equity investments. The Company uses ‘‘operating income’’ to assist it in measuring corporate performance before the costs of capital and amortization of capital and intangible assets. Operating income is not a measure recognized by GAAP and does not have a standardized meaning prescribed by GAAP. Therefore, this measure may not be comparable to similar measures presented by other issuers and investors are cautioned that it should not be used as an alternative to ‘‘net income’’ or other measures of financial performance calculated in accordance with GAAP.

TSX: WES 3 Today’s Remarks Operational Progress in Q3 Financial Update Strategic Events in Q3

Operational Progress in Q3 2006

TSX: WES 5 WFG Agency Network Same store customer count 4.9%+ Industry pricing flat - Alberta Auto Reduction 3% = < 0.05% of WFG Products per customer account growing Acquisitions – Thomsen Fisher and Willow Creek. Growing target environment.

TSX: WES 6 Western Life Assurance Sales and production Certificate count and growth Bolt-on product for network delayed moving out of test mode

TSX: WES 7 Bank West Sales and production Loan portfolio growth record in Q3 - $18.2 million. Expected to slow in Q4

Financial Update

TSX: WES 9 Overall Nine months ended Sept Revenue ($)55,98845,646 Income from Equity Investments ($)1,8901,188 Net Income ($)5,0103,634 Earnings per share ($)

TSX: WES 10 The Network Nine months ended Sept Commission & other customer revenue ($)34,07230,943 Operating expenses ($)23,46620,355 Operating income ($)10,60610,588

TSX: WES 11 Bank West Nine months ended Sept Interest & investment income ($) 6,0942,966 Net interest & investment income ($) 1, Operating expenses ($) 1,8921,371 Operating income/loss ($) 16(613)

TSX: WES 12 Bank West – Cash Basis Sept Dec Dec Operating income/loss ($)16(953)(1,124) Amortization of startup ($) General provisions ($) (317)(643)

TSX: WES 13 Western Life Assurance Nine months ended Sept (1) Premium & Investment Income ($) 18,92612,876 Policyholder benefits ($) 10,1146,365 Operating expenses ($) 6,7524,715 Operating income ($) 2,0601,796 (1) WLA acquired February 28, Reflects 7 months of operation.

TSX: WES 14 Corporate & All Other Nine months ended Sept Other revenues ($) 1,0821,069 Operating expenses ($) 5,2795,659 Operating loss ($) (4,197)(4,590)

TSX: WES 15 Other Income Nine months ended Sept Income from equity investments ($) 1,8901,188 Gain on sale of portion of reporting unit ($) -633

TSX: WES Return on Equity 7.12%7.22% Debt to Equity 34%52%

Strategic Events in Q3

TSX: WES 18 Priorities Completed two acquisitions Preparing for branch expansion program Planning to increase cross sales activity in 2007

Questions

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