Clairvest Group Inc.

Clairvest Group Inc.

February 28, 2005 09:00 ET

Clairvest Announces New Normal Course Issuer Bid


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: CLAIRVEST GROUP INC.

TSX SYMBOL: CVG

FEBRUARY 28, 2005 - 09:00 ET

Clairvest Announces New Normal Course Issuer Bid

TORONTO, ONTARIO--(CCNMatthews - Feb. 28, 2005) - Clairvest Group Inc.
(TSX:CVG) today announced that the Toronto Stock Exchange has accepted a
notice filed by Clairvest of its intention to make a new normal course
issuer bid. Clairvest's current normal course issuer bid expires on
March 3, 2005. The notice provides that the Corporation may, during the
12 month period commencing March 4, 2005, and ending March 3, 2006,
purchase on The Toronto Stock Exchange up to 877,472 common shares in
total, being approximately 5% of the outstanding common shares, subject
to a maximum aggregate expenditure by the Corporation of approximately
$10 million. Any shares purchased will be cancelled. The price which the
Corporation will pay for any such shares will be the market price at the
time of acquisition. The actual number of common shares which may be
purchased and the timing of any such purchases will be determined by the
Corporation. In total 1,612,752 common shares at a cost of $12.6 million
have been purchased under previous normal course issuer bids. There were
approximately 17,549,438 common shares and 2,230,954 non-voting shares
of the Corporation outstanding on February 24, 2005.

The Corporation believes, depending upon future price movements and
other factors, that its outstanding common shares may represent an
attractive investment and a desirable use of a portion of its available
funds.

Certain insiders of the Corporation may sell shares during the period
that the normal course issuer bid is outstanding, depending upon future
price movements and other factors.

Clairvest is a Canadian merchant bank that invests its own capital, and
that of third parties through Clairvest Equity Partners Limited
Partnership ("CEP"), in companies that have the potential to generate
superior returns. In addition to providing financing, Clairvest
contributes strategic expertise and execution ability to support the
growth and development of its investee partners. Clairvest realizes
value through investment returns and the eventual disposition of its
investments.

This press release contains forward-looking statements with respect to
Clairvest Group Inc., its subsidiaries and their investments. These
statements are based on current expectations and are subject to known
and unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements of Clairvest, its
subsidiaries and their investments to be materially different from any
future results, performance or achievements expressed or implied by such
forward-looking statements.

-30-

Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Clairvest Group Inc.
    Lana Reiken
    Chief Financial Officer and Corporate Secretary
    (416) 925-9270
    (416) 925-5753 (FAX)
    www.clairvest.com