CFM Majestic Inc. Announces Intention To Purchase Further Shares Accepted.

Business Editors

MISSISSAUGA, Ontario--(BUSINESS WIRE)--Oct 4, 2001

CFM Majestic Inc. (the "Company") announced today that its previously filed notice of intention to make normal course purchases of its common shares has been accepted by the Toronto Stock Exchange.

The Company may purchase up to 2,800,000 common shares. Such purchases may commence on October 9, 2001 and will terminate on October 8, 2002 or such earlier date as the Company may complete its purchases pursuant to a notice of intention to make a normal course issuer bid 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. The Company has 38,035,983 common shares issued and outstanding as of today's date, of which 9,673,356 common shares are held directly or indirectly by directors and officers of the Company, leaving a public float of 28,362,627 common shares.

CFM Majestic Inc. is a leading vertically integrated manufacturer of fireplaces, stoves and related products in North America and the United Kingdom. The Company designs, manufacturers and distributes a complete line of hearth products, including gas and wood-burning fireplaces, free-standing stoves, gas logs, hearth accessories, indoor and outdoor space heaters and a growing number of outdoor leisure products, and maintains an ongoing program of research and development aimed at continually improving the quality, design, features and efficiency of its products.

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 and the level of housing starts, the Company's ability to develop new products, the seasonality of the demand for the Company's products, competition and foreign currency fluctuations. These factors and other risks and uncertainties are discussed in the reports and disclosure documents filed by the Company with Canadian and U.S. securities regulatory authorities and commissions.