Reko Announces Fourth Quarter and Year-End Results for Fiscal 2002.

Business Editors

WINDSOR, Ontario--(BUSINESS WIRE)--Sept. 24, 2002

Reko International Group (TSX:REK) announced today the results for the three months and year ended July 31, 2002. Consolidated sales for the three months ended July 31, 2002 were $20.0 million, compared to $10.1 million for the same period last year. Mould sales have returned to normal levels with prototype dies and metal parts improving during this last quarter. Net income for the period was $1.7 million or $0.22 per share versus a loss of $(0.7) million or $(0.08) per share last year. Consolidated sales for the year were $74.0 million compared to $52.8 million last year. Net income for the year ended July 31, 2002 was $4.6 million or $0.59 per share compared to a loss of $(2.5) million or $(0.31) per share last year.

"We are very pleased with the continued progress in our lean manufacturing system and the continued competitiveness that has been delivered through the Reko Manufacturing Process implementation," stated Steve Reko, President and CEO, in reviewing the 2002 fiscal year. "Due to the Reko Manufacturing Process and the Corporation's continued emphasis on stringent cost control, our plastic and metal operations have made a significant turnaround despite soft volumes. We are well positioned with our manufacturing process and diverse customer base to be successful in a tight marketplace, both in servicing the customer and providing a return to shareholders. Our continued focus in providing a broader package of services will only enhance our strategic customer penetration."

The Company is also in the process of restructuring the sales organization from separate product entities to a customer focused approach selling Reko Mould, Prototype, and Automation products to our diverse Tier 1 and Tier 2 automotive customer base. Gordon Young, Reko's Chief Operating Officer, stated, "Our sales efforts to sell the Reko `Tool Box' of services will be enhanced by using our experienced sales force across our product portfolio. We expect further customer sales growth from this effort."

Since July 31, 2001, the Company has repurchased for cancellation 137,300 shares under the normal course issuer bid at an average cost of $2.27 per common share resulting in 7,822,401 shares outstanding at September 24, 2002. On July 8, the Toronto Stock Exchange accepted Reko's notice of its intention to make a normal course issuer bid for 391,120 of the outstanding common shares until July 7, 2003, at the market price at the time of acquisition. All purchased shares will be cancelled. In the opinion of the board of directors, such purchases constitute a good use of corporate funds.

Financial Highlights:

------------------------------------------------------------------------
Period Ended July 31,
(in $,000 except per share amounts)

                                 Three Months          Fiscal Year
--------------------------------------------------------------------
                              Fiscal      Fiscal     Fiscal   Fiscal
                                2002        2001       2002     2001
--------------------------------------------------------------------
Sales                        $19,954     $10,135    $73,991  $52,808
Net Income (loss)              1,707        (669)     4,634   (2,500)
EPS (basic)                      .22        (.08)       .59     (.31)
Shareholders' Equity                                 58,739   54,175
Shareholders' Equity per Share                         7.51     6.81
--------------------------------------------------------------------

Founded in 1976, Reko International Group (TSE:REK) is a highly integrated, technology driven engineering and manufacturing firm providing engineered solutions for the plastic and metal forming segment of the automotive, aerospace and consumer product markets. In its twelve production facilities in Ontario and Michigan, Reko designs and manufactures precision moulds, dies, metal stampings and other related industrial tooling, in addition to its own proprietary line of CNC machining centers.

REKO INTERNATIONAL GROUP INC.    SUBSIDIARIES:
5390 Brendan Lane               -- Reko Tool & Mould (1987) Inc.
Oldcastle, Ontario              -- Reko Automation and Machine Tool Inc.
N0R 1L0                         -- Concorde Machine Tool Inc.
www.rekointl.com                -- Proto-Techniques, Inc.
                                -- Custom Plastic Solutions Inc.

   Providing Engineered Products & Service "Tools" For Your Success