Finance asset portfolio grows to $1.4 billion

TORONTO, Nov. 30, 2012 /CNW/ – Element Financial Corporation (TSX: EFN)
(“Element” or the “Company”), Canada’s leading independent equipment
finance company, today announced that it has completed the previously
announced acquisition of 100% of the shares of Horsham,
Pennsylvania-based CoActiv Capital Partners, Inc. (“CoActiv”) from
Marubeni America Corporation and Marubeni Corporation (collectively
“Marubeni”) for aggregate consideration of approximately $300 million,
including repayment of debt to Marubeni (the “Acquisition”).

With the completion of the CoActiv acquisition, Element has increased
its finance asset portfolio from approximately $1.1 billion to $1.4
billion.

The approximately $300 million funding required to complete the
Acquisition was satisfied through a combination of cash and
approximately $230 million advanced under new securitization and
related financing arrangements for the acquired finance assets. As part
of the closing of the Acquisition, Element, CoActiv and CoActiv’s
Canadian subsidiary entered into arrangements with affiliates of a
Canadian Schedule I bank providing for the securitization of
substantially all of CoActiv’s finance assets.

Barclays and BMO Capital Markets acted as financial advisors to Element
in connection with the Acquisition and Blake, Cassels & Graydon LLP
acted as legal counsel.

About Element Financial Corporation
With total assets of approximately $1.5 billion, Element Financial
Corporation is Canada’s leading independent equipment finance company.
Element operates nationally in three verticals of the equipment finance
market – Element Capital provides large ticket equipment leasing,
Element Finance serves the mid-ticket equipment finance market and
Element Fleet provides vehicle fleet leasing and management solutions
through the Company’s TLS Fleet Management division.

Forward Looking Statements

This release includes forward-looking statements regarding Element and
its business. Such statements are based on the current expectations
and views of future events of Element’s management. In some cases the
forward-looking statements can be identified by words or phrases such
as “may”, “will”, “expect”, “plan”, “anticipate”, “intend”,
“potential”, “estimate”, “believe” or the negative of these terms, or
other similar expressions intended to identify forward-looking
statements. The forward-looking events and circumstances discussed in
this release, the integration of CoActiv into Element following
completion of the Acquisition and any synergies related thereto, and
the anticipated growth of the CoActiv and Element business, may not
occur and could differ materially as a result of known and unknown risk
factors and uncertainties affecting the company, including risks
regarding the equipment finance industry, economic factors and the
equity markets generally and many other factors beyond the control of
Element. No forward-looking statement can be guaranteed.
Forward-looking statements and information by their nature are based on
assumptions and involve known and unknown risks, uncertainties and
other factors which may cause our actual results, performance or
achievements, or industry results, to be materially different from any
future results, performance or achievements expressed or implied by
such forward-looking statement or information. Accordingly, readers
should not place undue reliance on any forward-looking statements or
information. Except as required by applicable securities laws,
forward-looking statements speak only as of the date on which they are
made and Element undertakes no obligation to publicly update or revise
any forward-looking statement, whether as a result of new information,
future events, or otherwise.

SOURCE Element Financial Corporation