Overlord Financial Announces Appointment Of New Director

CALGARY, Alberta, June 21, 2005 - Overlord Financial Inc. (TSX Venture: OFI) (the "Corporation") gives notice that at the Annual General and Special Meeting of the Corporation held on June 17, 2005, the shareholders appointed the following persons to the Board of Directors:

• Mr. Marcel Tremblay;
• Mr. Andre Bineau (audit, compensation);
• Mr. Marc-Andre Elie (audit, compensation);
• Mr. Jean Desmarais (audit);
• Mr. Mike Fabi (corporate governance);
• Mr. Jean-Guy Lambert (corporate governance);
• Mr. Kirk Purdy;
• Dr. Eldon Smith (compensation, corporate governance)

Dr. Eldon Smith, President and Director of the Peter Lougheed Medical Research Foundation received his medical degree cum laude from Dalhousie in 1967. Following Internal Medicine and Cardiology training in Canada, UK, and the USA, he joined the Faculty at Dalhousie. Dr. Smith became Professor and Head of the Cardiology Division at Foothills Hospital and the University of Calgary, moving on to become Head of the Department of Medicine in 1985 and Associate Dean (Clinical Affairs) in 1990. Dr. Smith served as Dean of the Faculty of Medicine at the University of Calgary and was appointed Editor-in-Chief of the Canadian Journal of Cardiology.

Dr. Smith has published more than 200 papers and book chapters and has been a contributor to many national and international organizations. Currently serving on a number of public boards including the Alberta Heritage Foundation for Medical Research, the Alberta Health Professions Advisory Board, the Canadian Institute of Academic Medicine and has been a member of the Premier's Advisory Council on Health in Alberta. Dr. Smith also serves as a director of a number of publicly traded companies including Canadian Natural Resources Ltd., Vasogen Inc., and Pheromone Sciences Corp. Dr. Smith has received a number of honors/awards and has also been recognized by invitations to deliver prestigious named lectureships at other Universities.

At the Board meeting following the Annual Meeting the Board appointed directors to the above noted committees. The Board also appointed the following officers for the ensuing year:

• Marcel Tremblay, Chairman of the Board, President and Chief Executive Officer;
• Claude Blanchet, Vice Chairman;
• Kirk Purdy, Executive Vice President;
• Larry Titley, Vice President and Chief Financial Officer;
• Theresa Devost, Corporate Secretary

In his new role, Mr. Blanchet will be primarily involved with the continuing development of the Debmax structured product. He will report to Mr. Tremblay. His appointment is subject to approval of the TSX-V. Concurrent with his appointment, Mr. Blanchet was granted 400,000 stock options at market. Additional information including Mr. Blanchet's curriculum vitae will be posted on the Corporation website at www.overlordfinancial.com.

Mr. Purdy is currently the President of Juno Canada Holdings Ltd., an Overlord 100% owned subsidiary. In this added capacity with Overlord, he will be principally involved with the continuing development of international products, reporting as well to Mr. Tremblay.

Overlord Financial Inc. is a Canadian specialty fund manager focused on providing all classes of investors in Canada and throughout the world with a new generation of investment vehicles offering superior rates of return, preservation of capital, liquidity, and capital appreciation.

For further information concerning this press release, please contact:

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

Larry Titley
Chief Financial Officer
Overlord Financial Inc.
(403) 770-4808

The TSX Venture Exchange has neither approved nor disapproved the information contained herein.

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