New owner of GT in conference call and live webcast

Execs from Dorel Industries, which yesterday announced it is to buy Pacific Cycle in an all-cash deal, can be seen and heard later today being quizzed at a 2004 Guidance press conference. Dorel is to create a new recreational/leisure division to absorb Pacific.
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The conference call and webcast will start at 11:00 p.m. Eastern Time. Call 514 807 8791 (Montreal or overseas) or 1-800-814-4853 (elsewhere in North America).

The conference call can also be accessed via live webcast at http://www.newswire.ca/.../viewEvent.cgi?eventID (equal sign)718740 or http://www.q1234.com

Dorel CFO, Jeffrey Schwartz, said the Pacific Cycle transaction is expected to close early in February.

Sales in the new recreational/leisure division are expected to be in the range of $335m to $375m for the 11 months of 2004. Earnings from operations as a percentage of sales are expected to be between 11.5 percent and 12.5 percent.

"This, quite obviously, is a new business for us, so we are being prudent in our expectations," said Schwartz

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