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CINAR Sets Takeover Bid Meeting With Shareholders

CINAR Corp. will hold a special meeting of shareholders on Jan. 15, 2004 at the Omni Hotel in Montreal to obtain approval for a $143.9 million acquisition by an investor group comprised of former Nelvana execs Michael Hirsh and Toper Taylor with TD Capital Canadian Private Equity Partners.

CINAR is an integrated entertainment and education company involved in the development, production, post-production and worldwide distribution of non-violent, quality programming and educational products for children and families. It has been the subject of government investigations for talent improprieties, tax fraud and improper investments by its former management for the past three years.

Litigation involving the company, co-founders and former co-ceos Micheline Charest and Ronald Weinberg and current CINAR management, still needs to be resolved and could affect the purchase price.

Only shareholders duly registered as of the close of business on Dec. 12, 2003, will be entitled to vote at this special meeting. The management proxy circular describing this transaction in detail, as well as the proxy form, the letter of transmittal and related documents will be mailed to shareholders at least 21 days prior to the meeting.

The information will also be available on the System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com and on CINAR's Website www.cinar.com. The management proxy circular can also be obtained from the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR) at www.sec.gov/edgar.shtml . Copies can be obtained as well from the company's secretary, tel: (514) 843-7070.

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Rick DeMott
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