Chesswood Group Limited Announces Record Results for Fiscal 2010

Fort Collins, Colorado (I-Newswire) April 21, 2011 - Chesswood Announces Record Results for Fiscal 2010
Net income increases by 127% to $7.0 million

TORONTO, March 21, 2011 - Chesswood Group Limited (the "Company") (TSX: CHW), the successor to Chesswood Income Fund (the "Fund"), announced today results for the Fund, for its year-ended December 31, 2010.

The Fund's income before taxes and unrealized foreign exchange or swap amounts totaled $13.4 million in 2010, compared to $5.2 million in 2009, an increase of more than 150%. For the fourth quarter, income before taxes and unrealized exchange and swap amounts was $3.9 million, compared to $1.8 million for the fourth quarter of the prior year.

"The Fund had an outstanding, record year of earnings and an excellent fourth quarter" said Barry Shafran, the Company's President and CEO. "The year marked many significant milestones for our business. At the start of the year, our convertible debenture holders converted the debentures to equity, eliminating the only corporate debt we had. In July, the Fund raised $5.2 million in an over-subscribed rights offering. In September, Pawnee Leasing, our largest operating business, renewed an enhanced credit facility that added a strong new banking partner and increased capacity for the business. We saw four successive quarters of downward movement in Pawnee's main portfolio marker of accounts over 31 days past due, and we increased our monthly distribution three times during 2010."

Financial Highlights (in CDN $000's) For The Year Ended December 31, 2010

Income Before Taxes, Unrealized Foreign Exchange & Swap Amounts - $13,445
Net Income - $6,977
Adjusted EBITDA* - $15,120
Distributable Cash - $9,513
Total Distributions - $4,704

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Financial Highlights (in CDN $000's) For The Year Ended December 31, 2009

Income Before Taxes, Unrealized Foreign Exchange & Swap Amounts - $5,172
Net Income - $3,065
Adjusted EBITDA* - $6,886
Distributable Cash - $3,866
Total Distributions - $2,764

*See "Non GAAP Measures", below.

Effective January 1, 2011, pursuant to a plan of arrangement under the Business Corporations Act (Ontario), the Fund was converted from a trust structure into the Company, a dividend paying corporation. Holders of the Fund's trust units received common shares of Chesswood Group Limited on a one-for-one basis. All of the members of the Board of Trustees of the Fund and the Board of Directors of the Fund's administrator have continued as the directors of the Company, and senior management of the Fund have continued as senior management of the Company.

The common shares of the Company began trading on the Toronto Stock Exchange on January 4, 2011, under the symbol "CHW". Concurrently, the Fund's trust units were delisted.

On January 18, 2011, the Company increased the monthly dividend to $0.05 per share compared to a monthly distribution of $0.045 per unit paid by the Fund prior to its conversion. Monthly dividends will remain at this level until such time as the board of directors may determine that a change is appropriate.

Non GAAP Measures
References to Adjusted EBITDA and Distributable Cash are not recognized measures under Canadian GAAP and do not have standard meanings under Canadian GAAP. Accordingly, these measures may not be comparable to similar measures presented by other issuers.

Please refer to the Fund's Management Discussion and Analysis for the year-ended December 31, 2010 for additional information concerning these measures and a reconciliation of these measures to the Fund's consolidated net income for the period.

About Chesswood Group Limited
The Company operates primarily in the financial services industry with operating businesses in both Canada and the U.S.

For more information visit www.ChesswoodGroup.com.

Contact:
Barry Shafran
Chesswood Group Limited
416-386-3099
bshafran@chesswoodgroup.com

About Pawnee Leasing Corporation:
Pawnee Leasing Corporation (est. 1982), is a small-ticket funding source specializing in start-up business and less traditional credits up to $30,000.

Company Contact Information
Pawnee Leasing Corporation
Gary H. Souverein
700 Centre Avenue
Fort Collins, Co
80526
Phone : 9704822556