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Gold/Mining/Energy : Richelieu Hardware Ltd.

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To: Copperfield who started this subject	6/2/2003 2:43:43 PM
From: Copperfield	of 2

Richelieu closes a strategic acquisition MONTREAL, June 2 - Richelieu Hardware Ltd. announces it has acquired the assets of Laknord Inc. (Laval, Quebec), a company specializing in the distribution of wood finishing products. This transaction represents additional sales of $3.5 million annually for Richelieu. "This acquisition will enable us to accelerate our penetration of the wood finishing products market, which we have just started to develop and which offers great potential for Richelieu. We have been active in this niche since June 2000, when we finalized an exclusive distribution agreement for Mohawk products in Canada, followed in November 2002 by the acquisition of a Quebec City distributor specializing in such products. This acquisition fully matches our growth strategy, and offers perfect product and customer synergies. It allows us to expand our product selection, drive our growth in a specialty market and benefit from new expertise, since Laknord's team is joining us as of today," indicated Richard Lord, President and Chief Executive Officer of Richelieu.

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