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Mosaic Reports Strong Revenues and Earnings.

TORONTO--(BUSINESS WIRE)--Nov. 25, 1996--Mosaic Group Inc. (TSE:MGX) today reported strong growth in revenues and earnings for both the third quarter and the first nine months of 1996. -0-

Three Month Results (three months ended Sept. 30, 1996
 compared with three months ended
 Sept. 30, 1995)

-- Fees and production revenues were $12.8 million compared with
 $8.6 million.

-- Gross profit was $3,700,000 compared with $2,160,000.

-- (1) Profit before interest, finance costs, bonus and tax was
 $1,089,000 compared with $1,014,000.

-- Net earnings were $367,000 compared with $242,000.

-- Net earnings per share were $0.02 in both periods.


Nine Month Results (nine months ended Sept. 30, 1996
 compared with nine months ended
 Sept. 30, 1995)

-- Fees and production revenues were $26.5 million compared with
 $19.6 million.

-- Gross profit was $7,319,000 compared with $5,118,000.

-- (1) Profit before interest, finance costs, bonus and tax was
 $2,476,000 compared with $2,063,000.

-- Net earnings were $980,000 compared with $431,000.

-- Net earnings per share were $0.08 compared with $0.03.



-0-

Mike Preston, Chairman, said the third quarter was highly successful. The Company tripled in size following the closing of the acquisition of Sales and Marketing Group; it acquired the small but strategically important Mystery Shoppers (Canada) Inc.; it initiated negotiations, since successfully completed, for an agreement to combine with Field Marketing and Consulting Group Ltd., the leading independent outsourced sales force operation in the U.K.; and it achieved important progress at its new 50-percent-owned U.S. joint venture company which signed a second major profitable operations contract significantly ahead of plan.

Preston said the level of profit before interest, finance costs, bonus and tax was particularly gratifying for the first nine months considering the planning and strategy development costs of its ongoing vigorous acquisition and internal growth program. The outlook is for a good fourth quarter and substantial growth in 1997. Mosaic Group provides sales and marketing services including the recruitment, training and management of outsourced sales forces as well as creative promotional marketing services, design services and direct marketing programs. Mosaic shares trade on the TSE under the symbol MGX. -0-

(1) The Company believes profit before interest, finance costs, bonus and tax is the most meaningful comparative measure of year over year performance.

CONTACT: Mosaic Group Inc.

G. Michael Preston, 416/862-8300

or

Hume, Kieran Inc.

Jon W. Kieran or Marla Gale, 416/868-1079
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Publication:Business Wire
Date:Nov 25, 1996
Words:416
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