First Western Financial Ventures Inc. Announces Resumption of Trading

CALGARY, ALBERTA–(EMWNews – Aug. 14, 2008) –

NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA

First Western Financial Ventures Inc. (“First Western” or “the “Corporation”) (TSX VENTURE:FWF.P) is pleased to announce that effective August 15, 2008 the common shares of First Western will be reinstated to trading on the TSX Venture Exchange (the “Exchange”). First Western’s common shares were suspended from trading on the Exchange on June 5, 2008 as a result of a cease trade order issued by the Alberta Securities Commission on June 4, 2008. First Western was cease traded due to the failure of the Corporation to file, with the Executive Director, interim unaudited financial statements for the interim period ended March 31, 2008. First Western filed its outstanding financial statements on June 5, 2008 and the cease trade order was revoked on June 19, 2008.

In conjunction with the reinstatement review conducted by the Exchange, the Exchange had identified that First Western had made advances to a potential Target Company that were not incompliance with Exchange Policy 2.4. Accordingly, First Western has been placed on Notice to Comply with Exchange Requirements. Any further violations of Exchange Requirements may result in a review being commenced and further action being initiated by the Exchange against the Corporation and its management, directors and officers.

The TSX Venture Exchange Inc. does not accept responsibility for the adequacy and accuracy of this release.