Overlord Insider Announces Acquisition of Additional Common Shares

CALGARY, Mar 7, 2005 - Marcel Tremblay announces the acquisition, through the facilities of the TSX Venture Exchange, of an aggregate of 1,091,500 common shares (weighted average price of $0.38 per share) of Overlord Financial Inc. ("Overlord"), representing 2.79% of all the issued and outstanding common share of Overlord.

The 1,091,500 Common Shares acquired were acquired by Mr. Tremblay over the period October 1, 2004 to February 16, 2005. The common shares acquired collectively represent greater than an additional 2% of all of the issued and outstanding common shares of Overlord since the acquisition by Mr. Tremblay of 1,090,500 common shares (at $0.40 per share) of Overlord on March 16, 2004 by way of private agreement.

Mr. Tremblay is the Chairman, President, CEO and a director of Overlord and the beneficial owner of 2,182,000 Overlord common shares, or 5.6% of the issued and outstanding common shares of Overlord. Mr. Tremblay also controls Overlord Acquisitions Ind., which is the beneficial owner of 20,000,000 common shares of Overlord. As a result, Mr. Tremblay now owns or exercises control over an aggregate of 22,182,000 or 56.8% of the issued and outstanding common shares of Overlord.

The common shares were acquired for investment purposes. Mr. Tremblay has no present intention to make a take-over offer for the remaining outstanding Overlord common shares.

For further information concerning this press release, please contact:

Marcel Tremblay
Chairman, President and CEO
Overlord Financial Inc.
(403) 770-4805

Larry Titley
Vice President and CFO
Overlord Financial Inc.
(403) 770-4808

Click here for PDF version