July 21, 2005 10:10 ET

OPTIMUM GROUP INC. Announces the Increase of its Interest in OPTIMUM GENERAL INC.

MONTREAL, QUEBEC--(CCNMatthews - July 21, 2005) - OPTIMUM GROUP INC. announces that it has increased its interest in OPTIMUM GENERAL INC. through its affiliated companies OPTIMUM REASSURANCE INC. and QUEFRAN INC., of Montreal. Therefore, since June 17, 2004, OPTIMUM GROUP INC. has purchased indirectly through its affiliated companies OPTIMUM REASSURANCE INC. and QUEFRAN INC. 92 800 Class A Subordinate Voting Shares of OPTIMUM GENERAL INC., and accordingly increased from 3,437,200 (77.68%) to 3,530,000 (79.77%) the number of shares of this class owned by OPTIMUM GROUP INC. itself or through its affiliated companies. Taking into account the Class B Multiple Voting Shares, the percentage of voting shares held by OPTIMUM GROUP INC. and its affiliated companies remains relatively the same, at 96.6%.

The transactions took place on the Toronto Stock Exchange at the current market price on the day of each transaction, plus the applicable brokerage fees, and have been made for investment purposes for the portfolios of the reinsurance company OPTIMUM REASSURANCE INC. and the management and investment company QUEFRAN INC.

OPTIMUM GROUP INC. does not intend in the immediate future to increase significantly in any other manner its interest in OPTIMUM GENERAL INC.

OPTIMUM GROUP INC. is an international financial group active in property and casualty insurance, life insurance, life reinsurance, consulting, financial services and real estate. Founded in 1969, the Group is active in Canada, the United States and France. It employs approximately 520 persons.

Contact Information

    Jean-Claude Page
    President and COO
    (514) 288-2010