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Letter to the Editor

Boyd Group Reports Q2 Figures

The Boyd Group Inc. has announced that the company's interim report to shareholders for the six months ended June 30, 2002 reflects sales of $72.1 million, an increase of 8 percent over the same period in the prior year. Sales for the second quarter were $35.2 million, up 6 percent over the same period of 2001. Net earnings were level at $1.8 million as compared to last year.

Earnings per share were $0.107 for the six-month period, off slightly from the same period last year.

"Despite the general softness in the North American economy, we have again been able to demonstrate the recession resilient nature of our business," said Terry Smith, President and CEO. "We believe that we are well positioned for continued growth and even stronger results in the future."

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