Overlord Announces Private Placement

CALGARY, November 24, 2006 - Calgary-based Overlord Financial Inc. (the “Corporation”) announces a non-brokered private placement financing. Gross proceeds of $1,188,000 are to be raised from the issuance of 6,600,000 shares at a price of $0.18 per share. Directors, officers and employees of the Corporation will subscribe for 1,400,000 shares of the total 6,600,000 shares in this private placement.

All of the common shares will be subject to a four month hold period. No bonus, finder’s fee, commission or agents options have or will be paid in connection with the private placement.

This private placement was reviewed by the independent directors of the Corporation who determined that the terms of the private placement were reasonable in the circumstances. This private placement is exempt from the valuation and minority approval requirements of OSC Rule 61-501, since the fair market value of the private placement is less than 25% of the market capitalization of the Corporation.

The Corporation intends to use the proceeds of the financing for general working capital and to advance its current business plans. The closing price on the TSX-V of the Corporation shares on Wednesday, October 25, 2006, the last trading day prior to this private placement, was $0.21.

Overlord Financial Inc. is a Calgary-based investment manager specializing in energy. Overlord’s areas of expertise include junior oil and gas investments (public and private), energy income trusts, the management of oil and gas properties and other structured products.

For further information concerning this press release, please contact:

Eric Tremblay
Executive Chairman
Overlord Financial Inc.
(403) 770-4817

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

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

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