Equitable Group Inc. shareholders approve all business at special meeting

    TSX Symbol: ETC

    TORONTO, May 17 /CNW/ - Shareholders of Equitable Group Inc. today
approved all business to come before the Company's annual and special meeting
including the full slate of Directors for the Company, the reappointment of
KPMG LLP as the firm's auditors and the amendment of Bylaw Number 1 empowering
the Board to determine the number of directors to be elected at future annual
general meetings.
    As a result, the Company's Board of Directors for 2007 is as follows:-   Paul Alofs
    -   Austin Beutel
    -   Eric Beutel
    -   Geoffrey Bledin
    -   Joseph Dickstein
    -   Eric Kirzner
    -   Andrew Moor
    -   Lionel Robins
    -   Robert Rubinoff
    -   Michael Shulman"We're pleased to report that each director received over 99% in favour
of their election, which is a strong endorsement," said Austin Beutel,
Chairman of the Board. "As well, shareholders approved the re-appointment of
KPMG LLP with 100% in favour and the amendment to Bylaw Number 1, which needed
two thirds approval, received the support of 100% of all votes cast."
    During the meeting, Equitable Group's new President and CEO, Andrew Moor,
addressed shareholders, discussing his short-term priorities and reiterating
the Company's outlook and growth objectives for 2007. An archived webcast of
the meeting is available for three months at

    About Equitable Group Inc.

    Equitable Group Inc. is a leading niche mortgage lender that focuses on
single family dwelling, multi-unit residential and commercial mortgage
financing in selected geographic territories in Canada. It conducts business
through its wholly-owned subsidiary, The Equitable Trust Company, which was
founded in 1970. Equitable is also a nationally-licensed deposit-taking
institution. Equitable's non-branch business model, valued relationships with
third-party mortgage professionals and deposit-taking agents and disciplined
lending practices have allowed the Company to grow profitably and efficiently
for many years. The common shares of Equitable Group Inc. are listed on the
Toronto Stock Exchange under the trading symbol of "ETC". For more information

    Certain forward-looking statements may be made in this news release,
including statements regarding possible future business. Investors are
cautioned that such forward-looking statements involve risks and uncertainties
detailed from time to time in the Company's periodic reports filed with
Canadian regulatory authorities. Many factors could cause actual results,
performance or achievements to be materially different from any future
results, performance or achievements that may be expressed or implied by such
forward-looking statements. Equitable does not undertake to update any
forward-looking statements, oral or written, made by itself or on its behalf.
See the MD&A for further information on forward-looking statements.

    %SEDAR: 00020356E

For further information:
For further information: Andrew Moor, (416) 513-3519; Stephen Coffey,
(416) 515-7000

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