Change to Board of Directors

CALGARY, April 15, 2004 - Overlord Financial Inc. wishes to announce that Mr. Mario Menard resigned as a member of the Board effective April 7, 2004.

The directors of the Corporation have resolved to appoint Mr. Jean Desmarais as a member of the Board, effective April 13, 2004, to fill the vacancy created by the resignation of Mario Menard. Mr. Desmarais is independent within the meaning of applicable stock exchange policies.

Mr. Desmarais is Branch Manager and Investment Advisor for Desjardins Securities. From 1997 to 2001, Mr. Desmarais was Investment Advisor for Nesbitt Burns. Prior to his role at Nesbitt Burns, he studied commerce at H.E.C. of Université de Montréal. Mr. Desmarais participates in many financing and private placements with the Desjardins Securities Corporate Finance Group. Mr. Desmarais acted as Financial Advisor to many institutional clients as well as large retail investors.

Overlord is listed on the TSX under the trading symbol OFI. The TSX does not accept responsibility for adequacy or accuracy of this Press Release.

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