New Look Eyewear Inc. Announces a Dividend Reinvestment Program

MONTREAL, QUEBEC--(Marketwired - March 20, 2014) - New Look Eyewear Inc. (TSX:BCI) ("New Look") announced today the adoption of a Dividend Reinvestment Program ("DRIP") commencing with the payment of the June 2014 dividend. Proceeds from the DRIP will be used to reduce existing debt levels and to fund existing and future accretive growth opportunities. The DRIP will provide eligible New Look shareholders with the opportunity to reinvest their cash dividends in the future growth of the business at a 5% discount to the market price of New Look's Class A common shares (the "Common Shares").

Under the terms of the DRIP, eligible shareholders of New Look may elect to automatically reinvest all or part of their regular quarterly cash dividends in additional Common Shares, without incurring any commissions, service charge or brokerage fees. Eligible shareholders who elect to reinvest cash dividends under the DRIP will receive Common Shares at a price (the "Average Market Price") equal to the average closing price of the Common Shares on the Toronto Stock Exchange for the five-day trading period ending on the business day immediately prior to the dividend payment date. The price of the Common Shares purchased with reinvested dividends will initially be 95% of the Average Market Price. Enrolment in the DRIP is available to Canadian resident shareholders of New Look only.

Common Shares may be purchased under the DRIP commencing with the June 2014 cash dividend payable on June 30, 2014 to shareholders of record on June 20, 2014. Common Shares purchased through the DRIP will be issued directly by New Look from treasury.

Eligible shareholders may enroll in the DRIP by contacting their broker or other intermediary for enrollment information. The DRIP is subject to certain limitations and restrictions and interested parties are encouraged to review the full text of the DRIP. A copy of the DRIP is available on New Look's website at www.newlook.ca and also at www.sedar.com.

As of December 28, 2013, New Look had 12,637,414 Class A common shares issued and outstanding. New Look is a leader in the eye care industry in Eastern Canada having a network of 140 corporate stores mainly under the New Look and Vogue Optical banners and laboratory facilities using state-of-the-art technologies.

All statements other than statements of historical fact contained in this press release are forward-looking statements, including, without limitation, statements regarding the future financial position, business strategy, projected costs and plans and objectives of, or involving New Look. Readers can identify many of these statements by looking for words such as "believe", "expects", "will", "intends", "projects", "anticipates", "estimates", "plans", "may", "would" or similar words or the negative thereof. There can be no assurance that the plans, intentions or expectations upon which these forward-looking statements are based will be achieved. Forward-looking statements are subject to risks, uncertainties and assumptions. Although management of New Look believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. Some of the factors which could affect future results and could cause results to differ materially from those expressed in the forward-looking statements contained herein include: pending and proposed legislative or regulatory developments, competition from established competitors and new market entrants, technological change, interest rate fluctuations, general economic conditions, acceptance and demand for new products and services, and fluctuations in operating results, as well as other risks included in New Look's current Annual Information Form (AIF) which can be found at www.sedar.com. The forward-looking statements included in this press release are made as of the date hereof, and New Look undertakes no obligation to publicly update such forward-looking statements to reflect new information, subsequent events or otherwise, except as provided by law.

For additional information please see our website at www.newlook.ca.