CFM Corporation Announces Intention To Renew Normal Course Issuer Bid.

Business Editors

MISSISSAUGA, Ontario--(BUSINESS WIRE)--Sept. 25, 2002

CFM Corporation ("CFM") (TSX:CFM) announced today that, subject to regulatory approval, it intends to renew its current normal course issuer bid. Under the terms of the new issuer bid, CFM would purchase for cancellation up to 2,800,000 of its Common Shares, representing less than 10 percent of the issued and outstanding Common Shares of CFM, excluding those Common Shares currently held, directly or indirectly by directors and officers of CFM or Common Shares which are currently not transferable.

The program will commence and will terminate on such dates as CFM may initiate and complete its purchases pursuant to a notice of intention to make a normal course issuer bid to be filed with The Toronto Stock Exchange. Purchases will be made on the open market through the facilities of The Toronto Stock Exchange in accordance with its rules and policies. The price to be paid for the Common Shares purchased will be the market price of such shares at the time of purchase.

CFM has purchased 179,500 of its Common Shares within the past 12 months at an average purchase price of $9.63 per share.

CFM believes that the market price of its Common Shares could be such that their purchase may be an attractive use of corporate funds in view of the potential benefits of such purchases to remaining shareholders.

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, demographics, consumer confidence and the level of housing starts, war and acts of terrorism, CFM's ability to develop new products, patent protection, weather, the seasonality of the demand for CFM's products, the seasonal buying patterns of major customers, the availability of CFM's manufacturing capacity to respond to seasonal demand, industry capacity, product liability, relationships with certain significant customers, suppliers and employees, availability of gas and gas prices, mass merchant consolidation, credit and collections, supply and cost of raw materials, purchased parts and labour, 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 the reports and disclosure documents filed by CFM with Canadian and U.S. securities regulatory authorities and commissions.

CFM is a leading vertically integrated manufacturer of home products and related accessories in North America and the United Kingdom. CFM designs, develops, manufactures and distributes a complete line of hearth products, including gas, wood-burning and electric fireplaces, free-standing stoves, gas logs, and hearth accessories, and maintains an ongoing program of research and development aimed at continually improving the quality, design, features and efficiency of its products. CFM also manufactures barbecues, barbecue parts and accessories and outdoor garden accessories and imports indoor and outdoor space heating products from South Korea.