Algo reschedules Annual Meeting of Shareholders to September 11, 2007

    MONTREAL, Aug. 3 /CNW Telbec/ - Algo Group Inc. announced today that its
Annual Meeting of Shareholders has been rescheduled and will now be held at
10:00 on Tuesday, September 11, 2007, at 5555 Cypihot Street, Montreal, Québec
H4S 1R3. The record date for notice of the meeting and voting of the meeting
remains July 30, 2007.


    Algo Group is a Canadian importer of ladies' fashion apparel, as well as
men's, boy's and children's sportswear that is marketed throughout North
America. The Company also imports home furnishing products that it markets to
retailers in North America, and holds licenses to sell various brand products
including Levi's Home in Canada and the United States.

    Forward-looking statement

    Except for historical information provided herein, this press release may
contain information and statements of a forward-looking nature concerning the
future performance of Algo. These statements are based on suppositions and
uncertainties as well as on management's best possible evaluation of future
events. Such factors may include, without excluding other considerations,
evolution in customer demand for Algo's products and services, the impact of
price pressures exerted by competitors, and general market trends or economic
changes. As a result, readers are advised that actual results may differ from
expected results.
    %SEDAR: 00005002E

For further information:

For further information: ALGO GROUP INC.: Ken Labelle, C.A., Chief
Financial Officer, (514) 908-7804; INVESTOR RELATIONS: Maison Brison: Rick
Leckner, (514) 731-0000

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