Endeavour International Corporation REPORTS NET INCOME OF US$56.5 MILLION FOR YEAR ENDED JUNE 30, 2008 AND INCREASES DIVIDEND BY 100% by 24hgold

Mots clés associés : Copper | Uranium |

ENDEAVOUR REPORTS NET INCOME OF US$56.5 MILLION FOR YEAR ENDED JUNE 30, 2008 AND INCREASES DIVIDEND BY 100%

George Town, Grand Cayman, September 03, 2008 � Endeavour Financial Corporation (TSX:EDV) (�Endeavour� or the �Corporation�) today reported net income of US$56.5 million or US$1.90 per share, on revenues of US$108 million, for the year ended June 30, 2008. This compares with net income of US$85.6 million or US$3.67 per share, on revenues of US$109 million, for the year ended June 30, 2007.

Highlights year ended June 30, 2008:

� Revenue of $108 million (including US$60 million investment income and US$48 million financial advisory fees)
� Adjusted EBITDA of US$72.9 million
� Net Income of US$56.5 million, or US$1.90 per share
� Paid US$4.1 million in dividends
� Re-purchased 520,200 common shares at an average price of CDN$7.39 (CDN$3.8 million)
� Shareholders� Equity increased from US$255 million (CDN$11.57 per share) to US$370 million (CDN$12.38 per share)
� Completed acquisition of Endeavour Financial Advisory Services Ltd.

Neil Woodyer, President and Chief Executive Officer commented �we are delighted with our financial results during a transition year in which we completed the acquisition of Endeavour Financial Advisory Services. The financial advisory revenue of US$48 million is a significant increase compared to previous years, reflecting a greater number of completed assignments which were generally larger in scale. Further, we experienced a high level of merchant banking investment activity and despite much more challenging market conditions, we generated US$60 million of investment income. Our strong financial performance is confirmation that our newly combined business, coupled with a focused merchant banking approach is an effective model which will clearly benefit all shareholders.�

The Board of Directors has declared a cash dividend of CDN$0.03 per share, payable on September 30, 2008 to shareholders of record on September 23,, 2008. On a go-forward basis the monthly dividend payments to shareholders will be CDN$0.03 per share. This annualized dividend rate of CDN$0.36 per share represents a current dividend yield of 6.2%, based on the closing price of Endeavour�s shares on September 2, 2008. Chairman, Frank Holmes, stated �The Board fully endorses the long-term earnings outlook of the Company and is pleased to announce the increase in the monthly dividend payment by 100%.�

As of June 30, 2008 the book value per issued and outstanding share (31,123,077) was US$11.41 (or approximately CDN$12.38), compared to US$10.86 (or approximately CDN$11.57) as of June 30, 2007.

During the year ended June 30, 2008 the Corporation re-purchased 520,200 of its Common Shares in the market at a weighted average price of CDN$7.39 per share. All of these common shares have been returned to treasury.

Resource Transactions

During the year ended June 30, 2008 Endeavour Financial advised on numerous noteworthy resource transactions, including:

� The acquisition of Pacific Stratus Energy by Petro Rubiales Energy in a transaction valued at US$2.5 billion

� Rusoro Mining�s US$523 million acquisition of Gold Fields� Venezuelan gold assets including the Choco 10 mine

� The sale of a 30% interest of Baja Mining�s Boleo Copper Project to a consortium of Korean companies for a financing package totaling US$294 million

� Northern Orion�s business combination with Yamana Gold and Meridian Gold to create a US$9.8 billion gold company

� Participation in the creation and launch of Gold Wheaton, a newly created gold-stream company (current market capitalization, approximately CDN$750 million)

� The business combination of European Minerals and Lero Gold Corp. to form Orsu Metals (transaction valued at approximately US$130 million)

� Arrangement of US$100 million corporate loan facility for Uranium One

Commenting further, President and Chief Executive Officer Neil Woodyer stated �as a merchant bank, Endeavour supports its specialist financial advisory services with strategic capital investments. We frequently invest in our client companies and have invested in each of our resource clients noted above. Our approach is to work as a trusted advisor to senior corporate officers and directors, helping them to devise and implement growth strategies in order to create shareholder value. We believe this long-term, relationship-based approach is core to the success and sustainability of our business�.

Endeavour will host a conference call on Thursday September 4, 2008 at 10:00 AM Eastern Standard Time. The meeting will be webcast by V-Call and can be accessed from the Corporation�s website at www.endeavourfinancial.com or by calling the operator at 201-689-8031 or toll free 877-407-8031 prior to the scheduled start time. The conference call will be archived for later playback on Endeavour�s website until September 3, 2009.

About Endeavour Financial Corporation

Endeavour is an independent merchant banking company focused on the global natural resources sector. The Corporation offers advisory services in project, corporate and debt capital markets; equity financings; mergers and acquisitions; and strategic business development. Endeavour also provides equity and bridge loans in support of clients, transactions, and other market opportunities. Accessing its global industry networks, Endeavour creates and launches new growth companies as both an advisor and investor.

For additional informational please visit our corporate website at www.endeavourfinancial.com. In order to access the Corporation�s financial statements directly, please click the following URL:
http://files.newswire.ca/509/Endeavour_Financial.pdf

On behalf of Endeavour Financial Corporation

�Neil Woodyer�

Neil Woodyer
President and Chief Executive Officer

The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. The foregoing information may contain forward-looking statements relating to the future performance of Endeavour Financial Corporation. Forward-looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially. These risks and uncertainties are detailed from time to time in the Corporation�s filings with the appropriate securities commissions.

For additional information, please contact:

Dr. Sally Eyre
Director Marketing & Business Development
(604) 609-6129

Or

Mr. Bill Koutsouras
Executive Vice President and Chief Financial Officer
(345) 815 0601

Or

Vanguard Shareholder Solutions
1-866-341-1111 or (604) 608-0824

email: investor@endeavourfinancial.com

CLICK HERE TO VIEW THE FULL RELEASE AND FINANCIAL STATEMENTS

Endeavour Financial
Vanguard Shareholder Solutions
Vanguard Shareholder Solutions (Vanguard) provides, for remuneration, corporate communications and investor relations services to the above mentioned client(s). The information contained in this email is based on existing disclosure documents or other publicly available information. You are encouraged to seek independent verification of any information that is important to your decisions. By responding to your inquiry neither Vanguard nor the above mentioned client(s) is offering securities or advising or soliciting the purchase or sale of securities.

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