The Rival Company to Make Bid for Bionaire

Business Wire, March 4, 1996

MONTREAL--(BUSINESS WIRE)--March 4, 1996--Bionaire Inc. (TSE,ME:ION) announced today that it has entered into an agreement with The Rival Company for the take-over of Bionaire.

It is anticipated that an indirect wholly owned subsidiary of Rival will launch the bid on Tuesday, March 5. The Board of Directors of Bionaire has unanimously recommended that the shareholders accept the Rival offer.

The bid is subject to various customary conditions, including the condition that at least 90 percent of the outstanding common shares of Bionaire, other than shares held by Rival and its affiliates and associates, be tendered.

Bionaire has agreed to pay to Rival a fee of $0.08 per share (including "in the money" options) if the bid is unsuccessful in the face of a competing bid or if Bionaire acts in violation of a condition of the bid.

Bionaire is a publicly listed Canadian corporation engaged in the design, manufacturing and worldwide distribution of high quality portable air purifiers and humidifiers.

CONTACT: Bionaire Inc.

JEAN-GUY GAUTHIER, 514/636-0790

GREGG THOMASSIN, 514/636-0790

514/636-3981 (FAX)