Richelieu is a leading North American importer, distributor and manufacturer of specialty hardware and related products.

The year ended November 30, 2008 marked our twelfth consecutive year of sales and net earnings growth. Consolidated sales totalled $441.4 million and net earnings grew to $35.6 million or $1.56 per share. The average annual growth in sales and net earnings was 9.1% and 9.6%, respectively, for the last five years.

We ended 2008 with solid cash resources and an excellent financial position. During the year, we recorded cash flows from operating activities (after net change in non-cash balances related to operations) of $41.2 million. As at November 30, 2008, we posted a positive cash balance of $6.1 million and $130.9 million in working capital, for a current ratio of 4.3:1, and had almost eliminated our debt to $0.6 million. Assets stood at $273.5 million, shareholders´ equity at $228.2 million and the book value per share at $10.39. Return on average equity worked out to 16.3%.

In 2008, we returned a total of $27.4 million to our shareholders, and yet we retained all the financial resources needed to carry on our business strategy in 2009. Our excellent financial enabled us to pay shareholder dividends of $7.3 million and to buy back 5% of our outstanding common shares for a consideration of $20.1 million. We consider this share purchase to be a great investment for the Company and a good way to increase the long-term value we offer shareholders.

This strong performance stems from a good balance between expansion-by-acquisition (35 acquisitions within the past 20 years) and organic growth, sustained by a strong market development team and the outstanding innovations we add every year to a product offering that is unique in our business sector.

Our growth vectors:

Strongly customer-oriented from our inception – we constantly adapt to our customers´ business reality, with a passion for excellence. Through our innovations, solutions and the sales tools we design for our customers, we contribute to the competitiveness and growth of some 40,000 manufactures and retailers in North America.

Our North American leadership in a specialized and highly fragmented market gives us unique service capabilities and allows us to seize acquisition opportunities that are in line with our long-term vision.

We have made 35 acquisitions in North America over the past 20 years –local businesses generating complementarity, synergies and profitability, that have helped diversify our market segments and product offering, while providing us with new expertise. We have the financial resources to carry on this expansion.

We are a catalyst for innovations from a wide range of suppliers who are among the best in the world. Our offering comprises some 58,000 products (SKUs) in a great variety of categories. More than 50% of these products are sold under our own or exclusive brands.

We have a talented personnel of some 1,300 people with specialized skills, including a sales and marketing team that stands apart in our market, and we making training a priority. More than 60% of our employees are Richelieu shareholders.

We have the most robust and extensive distribution network in our field in North America, with distribution logistics tailored to our customers´ needs, a “One-Stop Shop” service approach and a network-wide integrated management system.

For further information about our operating results and financial position, please consult our regularly disclosed financial reporting, including our annual and interim reports, press releases and annual information forms. These documents are filed on www.sedar.com.