MONTREAL, Dec. 9 /CNW Telbec/ - MEGA Brands Inc. (TSX: MB) announced
today the appointment of Paul Rivett to serve on its Board of Directors and
that Peter T. Main will depart as a Director of the Corporation on January 15,
2009. Mr. Rivett's appointment, which is effective immediately, is the result
of Fairfax Financial Holdings Limited (TSX, NYSE: FHH) exercising its right to
appoint a director to the Board of Directors under the terms of the private
placement of senior unsecured convertible debentures which closed on August
18, 2008.
"We are very pleased to welcome Paul Rivett to the Board and look forward
to benefiting from his vast experience as we move forward," MEGA Brands
President and CEO Marc Bertrand stated.
"I also wish to acknowledge Peter T. Main's significant contribution
during his six years on our Board. He was a valuable source of industry and
marketing knowledge and a great supporter of our company. We wish him well in
his future endeavors," added Bertrand.
Mr. Rivett has been Vice President and Chief Legal Officer of Fairfax
Financial Holdings Limited since 2004 and is also Vice President and Chief
Operating Officer of Hamblin Watsa Investment Counsel Ltd., the Fairfax
Group's investment manager. Prior to 2004, Mr. Rivett was a U.S. corporate
securities attorney at Shearman & Sterling LLP after working as a corporate
securities associate at Blake, Cassels & Graydon LLP in Toronto. Mr. Rivett
also sits on the Board of Directors of AbitibiBowater Inc.
Forward-looking Statements
All statements in this press release that do not directly and exclusively
relate to historical facts constitute "forward-looking statements". These
statements represent the Corporation's intentions, plans, expectations and
beliefs. In certain instances, these statements require us to make assumptions
and there is significant risk that these assumptions may not be correct.
Furthermore, these statements are subject to risks, uncertainties and other
factors, many of which are beyond the Corporation's control. The Corporation
disclaims any intention or obligation to publicly update or revise any
forward-looking statements, whether as a result of new information, future
events or otherwise, other than as required by applicable legislation. Readers
are cautioned not to place undue reliance on these forward-looking statements.
More information about the risks that could cause our actual results to
significantly differ from our current expectations can be found in the "Risks
and Uncertainties" section of our 2007 annual MD&A and Q3 2008 MD&A.
About MEGA Brands
MEGA Brands is a trusted family of leading global brands in construction
toys, games & puzzles, arts & crafts and stationery. We offer engaging
creative experiences for children and families through innovative,
well-designed, affordable and high-quality products that deliver on our
Creativity to the Rescue promise. For more information, please visit
http://www.megabrands.com.
The MEGA logo, Creativity to the Rescue, MEGA BLOKS, ROSE ART, MAGNETIX,
BOARD DUDES and MAGNEXT are trademarks of MEGA Brands Inc. or its affiliates.
For further information: Analysts and Investors: Eric Phaneuf, (514)
333-5555, ext. 2538, ephaneuf@megabrands.com; Media: Harold Chizick, (514)
333-5555, ext. 2338, hchizick@megabrands.com
