News Release: IMMEDIATE RELEASE

Irwin Commercial Finance reaches $1 billion in total assets

Vancouver, BC - October 4, 2006 - Irwin Commercial Finance (ICF) today announced it reached $1 Billion in total assets as of August 31, 2006.

Irwin Commercial Finance was founded in 2000 by Irwin Financial Corporation (NYSE: IFC). Its 202 employees in the U.S. and Canada serve the financing needs of franchisees and manufacturers and vendors for small- to mid-ticket leases. The company's franchise finance business targets quick service and casual dining franchisees in the U.S. and the leasing division focuses on customers in the U.S. and Canada. The company has also recently expanded its services into professional practices acquisition financing and technology leasing.

President and CEO, Joe LaLeggia, said, "This is a tremendous achievement. It is a clear demonstration of the efforts of our exceptional group of professionals. Not only have we proved a valuable partner to our customers as evidenced by this growth, we have become a meaningful part of Irwin Financial and its future growth plans. By focusing on both our customers and internal systems, we have achieved this milestone with good credit quality. I am proud of the way we work together with our employees, customers, and suppliers."

About Irwin Financial

Irwin® Financial Corporation is a bank holding company with a history tracing to 1871. The Corporation, through its principal lines of business provides a broad range of financial services to consumers and small businesses in selected markets in the United States and Canada.

About Forward-Looking Statements

This press release contains forward-looking statements that are based on management's expectations, estimates, projections and assumptions. These statements involve inherent risks and uncertainties that are difficult to predict and are not guarantees of future performance. Words that convey our beliefs, views, expectations, assumptions and estimates or similar language, or that indicate events we believe could, would, should, may or will occur (or might not occur) or are likely (or unlikely) to occur, and similar expressions, are intended to identify forward-looking statements, which include all statements in connection with the expected sale of mortgage assets and the implementation of a share repurchase program, other than statements of historical fact. Actual future results may differ materially from what is projected due to a variety of factors, including, but not limited to, unforeseen difficulties the parties may experience in completing the transaction as currently contemplated, which would affect the Corporation's plans to proceed with its share repurchase program; or unanticipated regulatory constraints. We undertake no obligation to update publicly any of these statements in light of future events, except as required in subsequent reports we file with the Securities and Exchange Commission.

For further information, contact:
Suzie Singer, Corporate Communications
812.376.1917

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