Media Centre
2001/02/28

Maple Leaf Foods Files Notice of Intention

Toronto, Ontario – Maple Leaf Foods Inc. announced today that it has filed a Notice of Intention to make a normal course issuer bid with The Toronto Stock Exchange and that the Exchange has accepted the Notice of Intention.Under the bid, the Company will have the right to purchase, commencing March 2, 2001 up to a maximum of 3,648,778 of its Common Shares (representing approximately 5% of its outstanding Common Shares) over the following twelve months through the facilities of the Exchange The Company currently has 72,975,576 Common Shares outstanding.Common Shares purchased by the Company under the bid will be cancelled.

The normal course issuer bid will remain in effect until the earlier of the date on which the maximum number of Common Shares permitted under the bid have been purchased, the date the Company provides notice of termination of the bid, or March 1, 2002.

Management considers the normal course issuer bid to be in the best interests of the Company. The purchase of Common Shares would also offset the dilutive effect of share issuances on existing shareholders arising from the issue from treasury of Common Shares under the Company's Share Option Plan or pursuant to acquisitions.

Maple Leaf Foods Inc. is a leading, global food processing company. Headquartered in Toronto, the Company employs more than 13,000 people at its operations across Canada, in the United States, Europe and Asia. Maple Leaf Foods Inc. had sales of more than $3.9 billion in 2000.


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