CINAR Board Appoints New Chairman and New President/CEO-$122 Million Investment Under Review.

Business Editors

MONTREAL--(BUSINESS WIRE)--March 6, 2000

CINAR Corporation (NASDAQ:CINR) (TSE:CIF.A.) (TSE:CIF.B.) announced today that Lawrence Yelin, a senior partner of the national law firm of Fasken Martineau DuMoulin and a long-standing member of the Board of Directors of the Company, has been appointed as Chairman of the Board of Directors. Barrie Usher has been appointed President and Chief Executive Officer of the Company and a member of its Board of Directors. Prior to joining the Company, Mr. Usher served as a Senior Vice-President of Manulife Financial Corporation and as President and Chief Executive Officer of New York Life Insurance Company of Canada, and previously held senior executive positions with Canadian chartered banks. Micheline Charest has resigned as Chairman and Co-CEO and Ronald Weinberg has resigned as President and Co-CEO. Ms. Charest and Mr. Weinberg will remain as directors of the Company and will retain leadership roles in the Company.

The Company has determined that approximately US$122 million of its funds have been invested without the approval of its Board of Directors. About US$86 million of these investments have been pledged to secure other investments. The Company's efforts to date have not permitted it to determine with clarity the nature of those other investments or their value. The Company is endeavouring to complete with the utmost urgency a special review of this matter to determine its legal position, and to obtain possession of such funds.

Hasanain Panju has been terminated as an officer and employee of the Company. He was formerly the Senior Executive Vice-President.

Although the reviews undertaken by the Company and its Audit Committee have not been completed, the results to date have led the Board of Directors to believe that these changes are in the best interests of the Company.

The reviews by the Audit Committee and the Company, which have been broadened in scope, now suggest that while the Company will make every effort to do so, the Company may not be able to release its financial statements for the 1999 financial year within the prescribed statuary delays.

CINAR Corporation (Nasdaq: CINR; and Toronto Exchange; CIF.A, CIF.B) is an integrated entertainment and education company involved in the development, production, post-production and worldwide distribution of non-violent, quality programming and educational products for children and families. CINAR Entertainment's original productions, distributed in over 150 countries, include two-time Emmy award-winner ARTHUR(TM) (with WGBH Boston), The Busy World of Richard Scarry(TM), Wimzie's House(TM), Caillou(R) and Lassie(TM), as well as mini-series and family films. Through CINAR's diverse programming, its licensing and merchandising of entertainment-related products, and its array of supplemental education products, the Company reaches children worldwide. CINAR's web site www.cinar.com.

This release may include information that could constitute forward-looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995 (U.S.). Forward-looking statements are identified by words such as "believe", "anticipate", "expect", "intend", "plan", "will", "may" and other similar expressions. Forward-looking statements in this document include, but are not necessarily limited to, those relating to the results of the company's reviews. Actual results or conditions may differ from those anticipated by these and other forward-looking statements. Such forward-looking statements are subject to a number of known or unknown risks and uncertainties.