TMX group

MONTREAL, Nov. 24 /CNW Telbec/ - Richelieu Hardware Ltd. (TSX: RCH)
("Richelieu" or the "Company") announces that the Toronto Stock Exchange has
accepted its notice of intention to make a "normal course issuer bid" to
purchase up to 1,152,630 common shares, representing 5% of the 23,052,612
outstanding common shares as at November 16, 2006 through the facilities of
such exchange.
The number of shares that the Company intends to purchase and the time of
such purchases will be determined by the Company, in its discretion. The
purchase period will begin November 29, 2006, and end on the earlier of
November 28, 2007, or the date on which the Company will have either acquired
the above-stated maximum number of shares or otherwise decided not to make any
further purchases. All the shares purchased will be cancelled by the Company.
The Board of Directors of Richelieu has concluded that the purchase of a
maximum of 1,152,630 common shares represents an appropriate use of the
Company's corporate funds. During the period of November 29, 2005, to
November 28, 2006, the Company purchased 137,700 common shares at an average
price of $21.0013 per common share under the terms of its common share buy
back program.
To the best knowledge of the Company, after reasonable inquiry, no
director, senior officer or any of their associates, no person acting jointly
or in concert with the Company, and no person holding 10% or more of the
common shares currently intends to sell common shares under this normal course
issuer bid.

Richelieu is Canada's leading distributor and importer of specialty
hardware for an extensive customer base consisting of furniture, kitchen
cabinet and window and door manufacturers plus the woodworking industry, and
hardware retailers including hardware superstores. In addition, the Company
specializes in the manufacture of a wide variety of veneer sheets and
edgebanding products through its subsidiary Cedan Industries Inc., of
components for the window and door industry and mouldings through Menuiserie
des Pins Ltd. and of various types of panels, tackboards, chalkboards and
whiteboards.