Canadian Western Bank Receives Letters Patent of Amalgamation.

EDMONTON, Alberta--(BUSINESS WIRE)--Nov. 8, 1996--Canadian Western Bank (TSE;VSE;ASE CWB ) today announced that the Bank has received Letters Patent of Amalgamation, issued by the Secretary of State (International Financial Institutions) Finance on behalf of the Minister of Finance, approving the previously announced amalgamation of Canadian Western Bank and B.C. Bancorp (formerly Bank of British Columbia) and the continuation of the banks as one bank under the name Canadian Western Bank.

The amalgamation became effective November 1, 1996.

B.C. Bancorp shareholders have until December 4, 1996 to convert their holdings into either shares of the amalgamated bank or cash, at their option, through Montreal Trust Company, the appointed transfer agent. Shareholders who elect the cash option will receive $0.40 for each B.C. Bancorp share held by them, while those shareholders who elect to convert will receive 0.035 common shares of Canadian Western Bank for each B.C. Bancorp share. Any B.C. Bancorp shareholder who has failed to notify Montreal Trust of their intention by the December 4th deadline will be deemed to have elected to convert their shareholdings into common shares of the amalgamated bank.

Canadian Western Bank operates through 20 branch locations and is the only Schedule I chartered bank with its headquarters and principal operations in Western Canada. The Bank specializes in commercial loans, commercial real estate financing, equipment loans and leasing to businesses throughout Western Canada. Services to individuals are provided through a competitive range of mortgages, consumer loans, deposit products and other retail banking services. Through Canadian Western Trust Company, it also offers self-administered RRSP, RRIF, trust and other fiduciary services.

The common shares of Canadian Western Bank are listed on each of the Toronto, Vancouver and Alberta Stock Exchanges under the trading symbol "CWB". The Bank's convertible debentures also trade on the TSE under the symbol "CWB.DB".

B.C. Bancorp was a Schedule I bank with its headquarters in Vancouver, British Columbia. Since 1986, when the majority of its operations were purchased by the Hong Kong Bank of Canada, it has limited its activities to the liquidation of remaining assets and distribution of the proceeds to its shareholders. B.C. Bancorp has 33.9 million shares outstanding held by approximately 14,000 shareholders.

CONTACT: Canadian Western Bank

Larry M. Pollock, 403/ 423-8888

or

B.C. Bancorp

William J. Bryden, 604/ 681-3911

or

Hume, Kieran Inc.

Jon W. Kieran, 416/ 868-1079

or

Hume, Kieran Inc.

Cathy Hume, 416/ 868-1079