Clairvest Group Inc. -- Baker Acquisition makes National Rubber The Leading North American Tire Recycler.

TORONTO, Ontario--(BUSINESS WIRE)--Feb. 14, 1996--CLAIRVEST GROUP INC. (TSE:CVG) Clairvest Group Inc. of Toronto today announced that its subsidiary, National Rubber Inc., also of Toronto, purchased Baker Rubber, Inc. of South Bend, Indiana in an asset transaction worth CDN$5.8 million (consisting of $3.8 million cash and $2.0 million assumption of debt).

The acquisition of Baker, the largest producer of crumb rubber in the United States, 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.

The acquisition of Baker accelerates National Rubber's rollout of its recycled rubber materials strategy. National Rubber's proprietary technology, which cost-effectively converts scrap tires into reusable rubber, resulting in significant material cost advantages, forms the basis of National Rubber's growth strategy. Large volumes of this recycled material are already used by National Rubber and its customers in the manufacture of auto parts, roofing materials and athletic and playground surfaces.

National Rubber will integrate the production of its scrap tire recycling plant in Flat Rock, Michigan with Baker's South Bend plant, under one new entity, NRB Materials Inc. NRB's head office will be in South Bend.

"By turning scrap tires into value-added materials and products, National Rubber is helping to solve the considerable solid waste and disposal problem that scrap tires pose to many governments," commented Joe Rotman, Chairman of Clairvest.

T.W. (Ted) Pattenden, President and Chief Executive Officer of National Rubber, added, "NRB Materials will have the capacity to produce 140 million pounds of tire-derived rubber and rubber compounds, making it the largest and most complete supplier of materials from scrap tires in North America."

With the combined technical expertise and extensive market experience of Baker and National Rubber, NRB Materials will be able to better serve its customers and further develop its proprietary technologies to increase the amount of regenerated rubber used in the rubber products and asphalt industries.

Clairvest Group Inc. is a leading Canadian merchant bank that invests in and assists in the development of carefully selected, high potential companies. It contributes capital as well as human resources to stimulate the growth and development of its investment partners, in order to build long-term value. Clairvest has a 90% interest in National Rubber.

CONTACT: Clairvest Group Inc.

James H. McKelvie

Managing Director and Vice President Finance

416/925-9270

or

National Rubber Inc.

T.W. (Ted) Pattenden

President and Chief Executive Officer

416/652-4222