Brampton Brick Announces Sale of Residential Properties.

BRAMPTON,ON--(BUSINESS WIRE)--Oct. 26, 1995--BRAMPTON BRICK (TSE, ME: BBL.A) Brampton Brick Limited announced today that it has completed sales of residential lots, comprising a total of 469 quattroplex, semi-detached and town house units from property being held for redevelopment at the site of its former plant in Brampton, Ontario. The Company had previously announced on November 21, 1994 that it had entered into these agreements of purchase and sale.

Aggregate proceeds from these sales are approximately $25 million, of which $1.3 million was received in cash at the time the agreements of purchase and sale were entered into, and $3.7 million was received in cash on closing. The balance is due within 24 months and is secured by mortgages on these properties. Cash proceeds have been utilized to fund development expenditures.

A gain of approximately $5.9 million has been realized on the sale of these properties and will be reflected in the Company's fourth quarter results.

Brampton Brick is Canada's second largest producer of clay brick and holds a 38.2 percent interest in one of the largest producers of concrete block in Ontario. The Company's products are used for residential construction and industrial, commercial and institutional building projects.

CONTACT: Brampton Brick

Jeffrey G. Kerbel, 905/840-1011