Clairvest Group Inc. - Results for the Third Quarter.

TORONTO, Ontario--(BUSINESS WIRE)--Feb. 19, 1996--CLAIRVEST GROUP INC.(TSE: CVG ) Clairvest Group Inc. announced its results from operations for the nine month period ended December 31, 1995. Net income was $7.2 million or $0.58 per share on revenues of $48.3 million. The net income for the comparable period ended December 31, 1994 was $4.8 million or $0.40 per share on revenue of $45.3 million. Fully diluted net income per share was $0.40 compared to $0.34 for the same period last year.

Subsequent to the quarter end Clairvest announced that it had funded with a $4.5 million additional investment in its subsidiary National Rubber Inc. the purchase of certain assets from Baker Rubber, Inc. of South Bend, Indiana in a transaction worth Cdn. $5.8 million (consisting of $3.8 million cash and $2.0 million assumption of debt). The acquisition of the Baker assets, together with National Rubber's existing tire recycling facilities in Toronto and its newly-opened Michigan plant, makes National Rubber the dominant recycled rubber producer in North America.

Also, subsequent to the quarter end Clairvest invested $6 million in Sparkling Spring Water Limited, a purified water company whose primary business is the bottling and delivery of purified water and the rental of water coolers to residential and commercial customers which has the predominate market share in each of the Maritimes and British Columbia in Canada and in London, England.

Announced on November 27, 1995 Western Co-Axial Limited, one of Clairvest's investee companies entered into a binding agreement to acquire a cable system in Halton, Ontario which has a total of 18,000 subscribers. This acquisition is subject to due diligence and approval by the CRTC. Clairvest will invest an additional $6.0 million in Western to assist in this acquisition. After this investment Clairvest will have an approximate 42.5 percent interest in Western. This investment will make Western the largest private cable TV system in Ontario.

Two of these deals support existing investments while Sparkling Springs provides Clairvest with a base to participate and grow its investment in the consolidation of the fastest growing segment of the beverage industry.

On March 4, 1996 the Common Share Purchase Warrants expire entitling the holder to purchase one Common Share for $5.50 for each Warrant held. The proceeds will be used to invest in strategically chosen companies within the criteria set out by the Board of Directors.

Clairvest Group Inc. is a Toronto-based merchant bank that invests in and assists in the management of carefully selected, emerging companies. It contributes management expertise as well as capital resources to stimulate the growth and development of its partners, in order to build long-term value.

The Group's Board of Directors includes well-known entrepreneurs who have founded successful businesses and committed their own capital to the Company.

CONTACT: Clairvest Group Inc.

James H. McKelvie, C.A.

Managing Director and Vice-President, Finance

416/925-9270