TORONTO, Jan. 12 /CNW/ - McVicar Industries Inc. ("McVicar" or the "Company") (TSXV: MCV) announces that it intends to conduct, subject to regulatory approval, a normal course issuer bid (the "Bid") pursuant to which McVicar may purchase up to a maximum of 1,800,000 common shares in the capital of McVicar (the "Shares"), representing approximately 4.8% of its 37,427,320 issued and outstanding common shares as at January 4, 2011.

McVicar has undertaken the Bid because it is of the view that the recent market prices of the Shares do not properly reflect the underlying fundamentals and values of its assets and business undertaking.

The Company intends to commence the Bid on or about January 14, 2011 (being three days following acceptance of the Bid by the TSX Venture Exchange on January 10, 2011) and terminate the Bid on or about January 13, 2012. Pursuant to TSX Venture Exchange (the "Exchange") policies, purchases of Shares under the Bid or otherwise during any 30 day period will not exceed 2% of the issued and outstanding Shares at the time such purchases are made.  Purchases pursuant to the Bid will be made from time to time through the facilities of the Exchange. Shares purchased will be paid for with cash available from McVicar's working capital, which at September 30, 2010, was approximately $21.6 million. All Shares purchased pursuant to the Bid will be cancelled and returned to treasury.

The Bid will be conducted through Mackie Research Capital Corporation., Suite #4500, 199 Bay Street, Commerce Court West, Toronto, Ontario, Canada, M5L 1G2, telephone 416-860-7600 or toll-free 888-860-7606.

About McVicar

Headquartered in Toronto, Canada, McVicar Industries Inc. is focused on the specialty chemical business through interests in companies operating in the People's Republic of China. McVicar's operating companies are specialty chemical companies serving the personal care, pharmaceutical and industrial markets.

This press release contains forward-looking statements which reflect the Corporation's current expectations regarding future events. The forward-looking statements involve risks and uncertainties. Actual results could differ materially from those projected herein. Although we believe that our expectations are based on reasonable assumptions, we can give no assurance that our expectations will materialize.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or the accuracy of this release.

SOURCE McVicar Industries Inc.

For further information:

McVicar Investor Contact: Ms. eXavier Peterson or Mr. Winfield Ding, Chief Financial Officer, Tel: (416) 366-7420; or

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