The Forzani Group Ltd. has announced the appointment of Robert Sartor to the position of Chief Executive Officer of The Forzani Group Ltd. and Bill Gregson to the position of President and Chief Operating Officer, each such appointment effective February 3, 2003.

Mr. Sartor, who previously held the position of President, Business Support and Chief Financial Officer, will retain responsibilities as Chief Financial Officer, pending the naming of a replacement. Messrs. Gregson and Sartor each joined The Forzani Group Ltd. in 1997 and have been instrumental in the Company’s record growth and financial performance.

Concurrent with these appointments, Messrs. Gregson and Sartor have entered into new five-year employment agreements with the Company.

John Forzani, who formerly held the position of Chief Executive Officer, retains the title of Chairman of the Board. Mr. Forzani was a founder of the Company in 1974 and has been the driving force in establishing The Forzani Group as the Canadian market leader in sporting goods retailing. In making these announcements, Mr. Forzani noted that: “These appointments reflect the demonstrated capabilities of our senior executives who have clearly delivered superior results to our shareholders year after year. Their long-term commitment to the Company bodes well for our shareholders, employees and our key vendors and partners. We are very fortunate to have this depth of talent to provide for an orderly transition of leadership.”

In addition to his responsibilities as Chairman of the Board, Mr. Forzani was recently elected as chairman of the Bern, Switzerland-based Intersport International Corporation, the world’s largest sporting goods buying group of which the Company is the exclusive North American licensee.