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OPERATING RESULTS AT OSHAWA CLIMB FOR FOURTH QUARTER, YEAR

ETOBICOKE, Ontario -- Fiscal year 1998 saw Oshawa Group engage in a series of acquisitions, divestitures and internal changes -- most notably the convergence of all retail/wholesale operations under the new name Agora Food Merchants. m continuing operations before interest, income taxes and unusual items, such as restructuring charges and real estate gains.On that basis, the company said fourth-quarter

ETOBICOKE, Ontario -- Fiscal year 1998 saw Oshawa Group engage in a series of acquisitions, divestitures and internal changes -- most notably the convergence of all retail/wholesale operations under the new name Agora Food Merchants.

m continuing operations before interest, income taxes and unusual items, such as restructuring charges and real estate gains.

On that basis, the company said fourth-quarter earnings from continuing operations advanced 11.4% to $20.6 million ($29.3 million Canadian). For the year, earnings improved 5.3% to $66.8 million.

Sales from continuing operations increased 13.8% to $4.78 billion in the fiscal year and 11.1% to $1.1 billion in the quarter.

Acquisition of food-service companies by Oshawa's food-service division, Serca, fueled about three-quarters of the fiscal year's sales growth, and two-thirds of the company's fourth-quarter growth, officials said.

4TH-QUARTER RESULTS

Qtr Ended 1/24/98 1/25/97

Sales $1.1 billion $983.6 million

Change + 11.1%

Net Income $20.6 million $18.5 million

Change + 11.4%

Inc/Share 48 cents 42 cents

52 Weeks 1998 1997

Sales $4.78 billion $4.20 billion

Change + 13.8%

Net Income $66.8 million $63.5 million

Change + 5.3%

Inc/Share $1.42 $1.45

Note: Sales and earnings figures reflect continuing operations only.