InterUnion acquires Guardian Timing Services and Bearhill Limited

Business Wire, Jan 19, 1995

NEW YORK--(BUSINESS WIRE)--Jan. 19, 1995--Georges Benarroch, president and CEO of the InterUnion Financial Corp. (OTCBB:IUFB), announced today that the company has acquired all the shares of Guardian Timing Services Inc., Toronto and Bearhill Limited, BVI.

Guardian Timing Services is a Canadian-based investment manager with approximately $35.0 million in assets under management; in 1993, revenues were $408,000. The company manages the Canadian Protected Fund, the Protected American Fund and the First American Fund. It uses a proprietary ITM market timing model owned by Bearhill Limited. Bearhill manages the Rexmore Fund, which invests primarily in U.S. equity mutual funds and offers investment management services in the international marketplace.

Georges Benarroch will be appointed to the board of directors of Guardian Timing Services and will act as its chairman. Jean-Pierre Fruchet, president of the company, will continue to serve in that capacity and will become advisor to Bearhill Limited. Fruchet indicated that he is confident that GTS will have $100 million under management within the next 18 months.

InterUnion Financial Corp. is an international business bank that invests exclusively in financial service companies. The company intends to file for a full NASD listing in mid-1995, after closing the purchase of Credifinance Capital Inc., which was announced in a previous release dated Nov. 21, 1994.

CONTACT: InterUnion Financial Corp., Toronto

Reno J. Calabrigo, 416/504-2522