Reko International Group Inc. To Buy Back Up To 391,120 Of Its Common Shares

    WINDSOR, Ontario--July 4, 2002--Reko International Group Inc. ("Reko") (TSX:REK) announced today that the Toronto Stock Exchange has accepted a notice filed by Reko of its intention to make a normal course issuer bid for 391,120 of its outstanding common shares.
    The notice provides that Reko may, during the 12 month period commencing July 8, 2002 and ending July 7, 2003, purchase on the Toronto Stock Exchange up to a total of 391,120 of its common shares, being approximately 5% of the outstanding common shares. The price that Reko will pay for any such shares will be the market price at the time of acquisition. The actual number of common shares which may be purchased and the timing of any such purchases will be determined by Reko. All purchased shares will be cancelled. During the preceding 12 months, Reko purchased a total of 148,300 shares at an average price of $2.26 pursuant to its normal course issuer bid which expires July 5, 2002. There are approximately 7,822,401 common shares of Reko currently outstanding.
    Reko believes that its common shares have been trading in a price range which does not reflect their value in relation to Reko's business and its future business prospects. As a result, depending upon future price movements and other factors, Reko believes that its outstanding common shares represent an attractive investment and a desirable use of a portion of its available funds.

"Michael Dunn"

Michael Dunn Vice President Finance

    Founded in 1976, Reko International Group is a highly integrated, technology driven engineering and manufacturing firm providing engineered solutions for the plastic and metal forming segment of the automotive, aerospace and consumer product markets. In its twelve production facilities in Ontario and Michigan, Reko designs and manufactures precision moulds, dies, metal stampings and other related industrial tooling, in addition to its own proprietary line of CNC machining centers.