Savaria Corporation

Savaria Corporation

June 06, 2005 11:33 ET

Savaria Announces New Director

LAVAL, QUEBEC--(CCNMatthews - June 6, 2005) - Marcel Bourassa, President and CEO of Savaria Corporation (TSX:SIS) (TSX:SIS) is pleased to announce that Mr. Jean-Louis Chapdelaine has been appointed a director of Savaria Corporation (the "Corporation") by the board of directors pursuant to the provisions of the Business Corporation Act (Alberta) and the Corporation's articles.

Mr. Chapdelaine brings to the Corporation more than 30 years of business experience. He is the founder of Metropolitan Carpet Inc. which built retail operations in both Quebec and Alberta with a flagship store in Montreal. Over the years Mr. Chapdelaine has bought, sold and developed commercial real estate properties and he is still involved as an owner of commercial properties in Quebec City and Montreal. He has also been an active investor in a variety of private and public companies and brings to the Corporation a strong background in advertising, sales promotion and motivation of marketing personnel.

The Corporation also wishes to announce that, following shareholder approval of the amendment of the Corporation's articles to permit the exercise of the Series "A" preferred shares at any time, the holder of the 7,000,000 Series "A" preferred shares, Les Elevateurs Savaria Inc., has exercised its right to convert these shares to 7,000,000 common shares. Les Elevateurs Savaria Inc. is a private holding company beneficially owned by Marcel Bourassa, President, CEO and a director of the Corporation and Jean-Maria Bourassa, CFO and a director of the Corporation. Compete details were provided in the Corporation's most recent information circular which is available at the SEDAR website ( The Corporation now has 22,744,262 common shares issued and outstanding as of today and no preferred shares issued and outstanding.

Savaria is one of North America's leading accessibility companies. The Corporation designs, manufactures and distributes equipment to remove barriers and facilitate mobility for persons with physical challenges, through a distribution channel of more than 300 dealers. Savaria generates about 63% of its revenues from the USA and about 32% from Canada.

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