CFM Corporation Announces Amendment to Credit Facilities Completed.

MISSISSAUGA, Ontario -- CFM Corporation ("CFM") (TSX:CFM) announced today that the previously announced amendments to its bank credit facilities, as well as the related amendments to the agreement governing the Corporation's senior notes, have been completed, with financing provided through to March 4, 2005. As previously announced, CFM is continuing to investigate a number of long term financing alternatives and other strategic options.

CFM also announced today that it expects the completion of the audit of its fiscal 2004 financial results before the end of January 2005 and anticipates releasing its audited financial results at that time.

This press release contains forward looking statements that involve certain risks and uncertainties which could cause actual results to differ materially from future results expressed or implied by such forward looking statements. Important factors that could affect these statements include, without limitation, general economic conditions, consumer confidence, the level of housing starts and demographics, CFM's ability to develop new products, patent protection, weather and related customer buying patterns and manufacturing issues, industry capacity, product liability, availability of gas and gas prices, mass merchant consolidation, credit and collections, supply and cost of raw materials, steel availability and pricing, purchased parts and personnel, costs of certain employee benefits, the inability to increase selling prices as costs increase, competition, foreign currency fluctuations and government regulation. These factors and other risks and uncertainties are discussed in detail in CFM's Annual Information Form dated February 9, 2004 and in the reports and disclosure documents filed by CFM with Canadian and U.S. securities regulatory authorities and commissions. Statements made in this press release are made as of December 21, 2004 and CFM disclaims any intention or obligation to update or revise any statements made herein, whether as a result of new information, future events or otherwise.

CFM is a leading integrated manufacturer of home products and related accessories in North America and the United Kingdom. CFM designs, develops, manufactures and distributes a line of hearth and space heating products, barbecue and outdoor products and water and air purification products. CFM maintains an ongoing program of research and development aimed at continually improving the quality, design, features and efficiency of its products.

CFM Corporation (TSX:CFM)