TSX Approves Forzani Stock Buy-Back

Toronto Stock Exchange has accepted The Forzani Group's application for a normal course issuer bid to purchase, from June 11, 2004 to June 10, 2005, through the facilities of the TSX, certain of its outstanding Class A
shares. As at May 31, 2004, there are 32,628,329 Class A shares issued and outstanding.

The number of Class A shares which may be purchased during the
period of the Bid will not exceed 1,000,000 Class A shares, which
is approximately 3.06% of the issued and outstanding Class A
shares.

The Bid has been put in place because the Company believes that
the Class A shares are undervalued in the market and are a good
investment for the Company at current and recent prices. All
Class A shares purchased through the Bid will be returned to
treasury for cancellation.