Saxon amends note in English-language version of Q1 Filing

No impact on previously stated earnings

TORONTO, June 1 /CNW/ - Saxon Financial Inc. (TSX: SFI) released today a
non-material amendment to a note in the English-language version of its
financial statements for the first quarter of 2006. The original note had
inadvertently overstated the number of issued options by 3,751 under the
company's stock-based compensation plan. The actual number of issued options
is 93,393.
The amendment does not affect the corporation's consolidated statements
of operations or cash flows for the first quarter, and does not affect
earnings per share or shareholders' equity. The restated financial statements
can be examined on www.sedar.com.
The French-language version is correct as originally filed and does not
require any amendment.

About Saxon Financial (www.saxonfinancial.ca)

Saxon Financial Inc. is one of Canada's most respected value-style
investment management firms.
The company has three principal lines of business: Saxon Funds Management
Limited, which manages a family of high-performing, low-fee mutual funds;
Howson Tattersall Investment Counsel Limited, an institutional asset
management business; and Howson Tattersall Private Asset Management Inc., a
private client asset management business.