MAAX's Senior Subordinated Note Interest Payment Status



    MONTREAL, Dec. 18 /CNW Telbec/ - MAAX Holdings, Inc. ("Holdings"), a
leading North American manufacturer of quality bathroom and spa products,
announced today that MAAX Corporation (the "Company"), a subsidiary of
Holdings, has not made its interest payment on its outstanding 9.75% senior
subordinated notes (the "Notes") due 2012. The Senior Subordinated Notes
Indenture (the "Indenture") under which the Notes were issued, provides a
thirty day grace period, which began on December 15, 2007, before such failure
to pay interest constitutes an Event of Default under the Indenture. The
Company is currently engaged in constructive discussions with its stakeholders
regarding strategic alternatives to improve its capital structure and increase
liquidity for general corporate purposes. We have determined it is in our best
interests to use the thirty day grace period provided in the Indenture to
continue these discussions and evaluate whether the Company will make its
interest payment under the Notes during such period.
    In addition, while it is not known with certainty at this time, it is
likely that the Company is in breach of the minimum consolidated adjusted
EBITDA covenant set forth in the Company's Credit and Guaranty Agreement (the
"Credit Agreement") by a small margin. Such covenant requires that the
Company's consolidated adjusted EBITDA as of November 30, 2007 for the
12-month period then ended be not less than $33,000,000. If it is determined
that the Company is in breach of this covenant, an Event of Default will have
occurred under the Credit Agreement which, if not waived, could lead to an
acceleration of payment demand by the Company's senior creditor. At this time,
the Company's senior creditor has not granted such a waiver.

    About MAAX

    MAAX is a leading North American manufacturer of award-winning bathroom
products and spas for the residential housing market. The corporation is
committed to offering its customers an enjoyable experience: distinctive,
stylish and innovative products and the best customer service practices in the
industry. MAAX offerings are available through plumbing wholesalers, bath and
spa specialty boutiques and home improvement centers.
    The corporation currently operates 18 manufacturing facilities and
independent distribution centers throughout North America and Europe. MAAX
Corporation is a subsidiary of Beauceland Corporation, a wholly owned
subsidiary of MAAX Holdings, Inc. Visit us at www.maax.com.




For further information:

For further information: Stephanie Jarrold, Corporate Director,
Communications, Cell.: (514) 705-4905, (514) 844-4155 ext. 242,
stephanie.jarrold@maax.com; Source: MAAX Corporation

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MAAX CORPORATION

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