Equitable Group launches search for new CFO

    TSX Symbol: ETC

    TORONTO, July 5 /CNW/ - Equitable Group Inc. today announced that Stephen
Coffey, Senior Vice President and Chief Financial Officer, has resigned
effective September 30, 2007 to pursue personal interests.
    The Company has established a search committee to identify potential
successors to Coffey and ensure an orderly transition of his responsibilities,
said Andrew Moor, Equitable Group's President and CEO.
    "Stephen has been a vital contributor to the success of the Equitable
Group," said Austin Beutel, Chairman of the Board. "Since joining the company
in 2001, he has provided strong leadership and wise financial counsel during a
period of profitable and efficient growth, which included the company's
initial public offering. We thank him for his commitment and dedication."

    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, visit

For further information:
For further information: Andrew Moor, President and Chief Executive
Officer, Phone: (416) 513-3519, Fax: (416) 515-7001

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