The Forzani Group Ltd./Le Groupe Forzani Ltee

The Forzani Group Ltd./Le Groupe Forzani Ltee

July 22, 2005 18:06 ET

The Forzani Group Ltd. Issues Normal Course Issuer Bid

CALGARY, ALBERTA--(CCNMatthews - July 22, 2005) - The Forzani Group Ltd. (TSX:FGL), Canada's largest retailer of sporting goods, today announced that the Toronto Stock Exchange (the "TSX") has accepted its application for a normal course issuer bid (the "Bid") to purchase, from July 26, 2005 to July 25, 2006, certain of its outstanding Class A common shares (the "Common Shares"). All purchases will be made through the facilities of the TSX.

As at June 30, 2005, there were 32,888,223 Common Shares issued and outstanding. During the past 12 months, the Corporation purchased 135,100 Common Shares of the Corporation at an average price of $11.18.

The number of Common Shares which may be purchased during the period of the Bid will not exceed 1,000,000 Common Shares, which is approximately 3.04% of the issued and outstanding Common Shares.

The Bid has been put in place because the Company believes that the Common Shares are undervalued in the market and are a good investment for the Company at current and recent prices. All Common Shares purchased through the Bid will be returned to treasury for cancellation.

For further information or to obtain a copy of the notice filed with the TSX in connection with the Bid, please contact Richard Burnet, Vice President and Chief Financial Officer of the Company at (403) 717-1442.

The Forzani Group is Canada's largest national retailer of sporting goods, offering a comprehensive assortment of brand-name and private-brand products, operating stores from coast to coast, under four banners: Sport Chek, Coast Mountain Sports, Sport Mart and National Sports. The Company also retails on-line at and provides a content rich sporting goods information site at . The Forzani Group is also a franchisor under the banners: Sports Experts, Intersport, RnR, Econosports, Atmosphere, Tech Shop and Nevada Bob's.

The TSX has neither approved nor disapproved of the contents of this news release.

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