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<SEC-DOCUMENT>0001204459-09-001456.txt : 20090813
<SEC-HEADER>0001204459-09-001456.hdr.sgml : 20090813
<ACCEPTANCE-DATETIME>20090813155232
ACCESSION NUMBER:		0001204459-09-001456
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20090813
FILED AS OF DATE:		20090813
DATE AS OF CHANGE:		20090813

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Gildan Activewear Inc.
		CENTRAL INDEX KEY:			0001061894
		STANDARD INDUSTRIAL CLASSIFICATION:	APPAREL & OTHER FINISHED PRODS OF FABRICS & SIMILAR MATERIAL [2300]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-14830
		FILM NUMBER:		091010453

	BUSINESS ADDRESS:	
		STREET 1:		600 BOULEVARD DE MAISONNEUVE OUEST
		STREET 2:		33RD FLOOR
		CITY:			MONTREAL
		STATE:			A8
		ZIP:			H3A 3J2
		BUSINESS PHONE:		5147352023

	MAIL ADDRESS:	
		STREET 1:		600 BOULEVARD DE MAISONNEUVE OUEST
		STREET 2:		33RD FLOOR
		CITY:			MONTREAL
		STATE:			A8
		ZIP:			H3A 3J2

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	GILDAN ACTIVEWEAR INC
		DATE OF NAME CHANGE:	19980515
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>gildan081309form6knr.htm
<DESCRIPTION>FORM 6-K
<TEXT>

<head>

<title>Gildan Activewear Inc.: Form 6-K - Prepared by TNT Filings Inc.</title>
</head>

<html>

<body>

<div style="border-top-style: solid; border-top-width: 1; padding-top: 1">
  <hr color="#000000" size="5">
</div>
<font face="Times New Roman" size="5"><b>
<p align="center">UNITED STATES<br>
SECURITIES AND EXCHANGE COMMISSION</b> <br>
</font><font face="Times New Roman" size="2"><b>Washington, DC 20549</b> </p>
</font><font face="Times New Roman" size="5"><b>
<p align="center">Form 6-K</b> </p>
</font><font face="Times New Roman" size="2"><b>
<p align="center">Report of Foreign Private Issuer <br>
Pursuant to Rule 13a-16 or 15d-16 of<br>
&nbsp;the Securities Exchange Act of 1934</b> </p>
<div align="center">
  <center>
  <table id="AutoNumber1" style="border-collapse: collapse" borderColor="#111111" cellSpacing="0" cellPadding="0" width="50%" border="0">
    <tr>
      <td width="50%" nowrap>
      <p align="center"><font face="Times New Roman" size="2">For the month of:
      <b>August 2009</b></font></td>
      <td width="50%" nowrap>
      <p align="center"><font face="Times New Roman" size="2">&nbsp;Commission File
      Number: <b>1-14830 </b> </font></td>
    </tr>
  </table>
  </center>
</div>
<font face="Times New Roman" size="6"><b>
<p align="center">GILDAN ACTIVEWEAR INC.</b> <br>
</font>(<i>Translation of Registrant's name into English</i>) </p>
<p align="center"><b>600 de Maisonneuve Boulevard West<br>
33rd Floor<br>
Montr&#233;al, Qu&#233;bec <br>
Canada H3A 3J2</b><br>
(<i>Address of Principal Executive Offices</i>) </p>
<p align="left">Indicate by check mark whether the registrant files or will file
annual reports under cover of Form 20-F or Form 40-F: </p>
<div align="center">
  <center>
  <table id="AutoNumber1" style="border-collapse: collapse" borderColor="#111111" cellSpacing="0" cellPadding="0" width="50%" border="0">
    <tr>
      <td align="middle" width="50%"><font face="Times New Roman" size="2">Form
      20-F </font><font face="Wingdings 2" size="3">&#163;</font></td>
      <td align="middle" width="50%"><font face="Times New Roman" size="2">Form
      40-F </font><font face="Wingdings 2" size="3">Q</font></td>
    </tr>
  </table>
  </center>
</div>
<p>Indicate by check mark if the registrant is submitting the Form 6-K in paper
as permitted by Regulation S-T Rule 101(b)(1): <font face="Wingdings 2" size="3">
&#163;</font></p>
<p>Indicate by check mark if the registrant is submitting the form 6-K in paper
as permitted by Regulation S-T Rule 101(b)(7): <font face="Wingdings 2" size="3">
&#163;</font></p>
<p>Indicate by check mark whether by furnishing the information contained in
this Form, the registrant is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934: </p>
<div align="center">
  <center>
  <table id="AutoNumber2" style="border-collapse: collapse" borderColor="#111111" cellSpacing="0" cellPadding="0" width="50%" border="0">
    <tr>
      <td align="middle" width="50%"><font face="Times New Roman" size="2">Yes
      </font><font face="Wingdings 2" size="3">&#163;</font></td>
      <td align="middle" width="50%"><font face="Times New Roman" size="2">No
      </font><font face="Wingdings 2" size="3">Q</font></td>
    </tr>
  </table>
  </center>
</div>
<p>If &quot;Yes&quot; is marked, indicate below the file number assigned to the registrant
in connection with Rule 12g3-2(b): N/A </p>
<hr style="page-break-after: always" align="center" width="100%" color="black" noShade SIZE="5"><b>
<p align="center">SIGNATURES</b> </p>
<p style="text-indent: 30px" align="justify">Pursuant to the requirements of the
Securities Exchange Act of 1934, the registrant has duly caused this report to
be signed on its behalf by the undersigned, thereunto duly authorized. </p>
<table style="font-size: 10pt; border-collapse: collapse" borderColor="#111111" cellSpacing="0" cellPadding="0" width="100%" border="0">
  <tr>
    <td style="font-size: 10pt" vAlign="top" align="left" width="50%">&nbsp;</td>
    <td style="font-size: 10pt" align="left" colSpan="2"><b>GILDAN ACTIVEWEAR
    INC.</b></td>
  </tr>
  <tr>
    <td style="font-size: 10pt" align="left" width="50%">&nbsp;</td>
    <td style="font-size: 10pt" vAlign="top" width="1%">&nbsp;</td>
    <td style="font-size: 10pt; border-bottom: medium none #000000" align="left" width="49%">
    &nbsp;</td>
  </tr>
  <tr>
    <td style="font-size: 10pt" align="left" width="50%">Date: August 13, 2009</td>
    <td style="font-size: 10pt" vAlign="top" width="1%">By:&nbsp;&nbsp;</td>
    <td style="font-size: 10pt; border-top: medium none; border-bottom: 1px solid #000000" align="left" width="49%">
    /s/ Lindsay Matthews &nbsp;</td>
  </tr>
  <tr>
    <td style="font-size: 10pt" align="left" width="50%">&nbsp;</td>
    <td style="font-size: 10pt" width="1%">&nbsp;</td>
    <td style="font-size: 10pt" vAlign="top" width="49%">
    <p style="margin-top: 0px; margin-bottom: 0px">Name:&nbsp;&nbsp;</p>
    <p style="margin-left: 26pt; margin-top: -11pt; margin-bottom: 0px">
    <font face="Times New Roman" size="2">Lindsay Matthews&nbsp;</font></td>
  </tr>
  <tr>
    <td style="font-size: 10pt" align="left" width="50%">&nbsp;</td>
    <td style="font-size: 10pt" width="1%">&nbsp;</td>
    <td style="font-size: 10pt" vAlign="top" width="49%">
    <p style="margin-top: 0px; margin-bottom: 0px">Title:&nbsp;&nbsp;</p>
    <p style="margin-left: 26pt; margin-top: -11pt; margin-bottom: 0px">
    <font face="Times New Roman" size="2">Director, Legal Services and<br>
    Corporate Secretary&nbsp;</font></td>
  </tr>
</table>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<hr style="page-break-after: always" align="center" width="100%" color="black" noShade SIZE="5"><b>
<p align="center">EXHIBIT INDEX</b> </p>
<table style="font-size: 10pt; border-collapse: collapse" borderColor="#111111" cellSpacing="0" cellPadding="0" width="100%" border="0">
  <tr style="font-size: 8pt" vAlign="bottom">
    <td style="border-bottom: 1px solid #000000" noWrap align="left" height="16">
    <b><font face="Times New Roman" size="2">Exhibit</font></b></td>
    <td height="16"><font face="Times New Roman" size="2">&nbsp;</font></td>
    <td style="border-bottom: 1px solid #000000" noWrap align="middle" height="16">
    <p align="left"><b><font face="Times New Roman" size="2">Description of
    Exhibit</font></b></td>
  </tr>
  <tr vAlign="bottom">
    <td vAlign="top" height="1"></td>
    <td vAlign="top" height="1"></td>
    <td vAlign="top" height="1"></td>
  </tr>
  <tr vAlign="bottom">
    <td vAlign="center" height="15"></td>
    <td vAlign="center" height="15"></td>
    <td vAlign="center" height="15"></td>
  </tr>
  <tr vAlign="bottom">
    <td vAlign="center" bgColor="#E6EFFF" height="15">
    <a href="exh991.htm" style="text-decoration: none">99.1</a></td>
    <td vAlign="center" bgColor="#E6EFFF" height="15">&nbsp;</td>
    <td vAlign="center" bgColor="#E6EFFF" height="15">
    <a href="exh991.htm" style="text-decoration: none">News Release Dated August
    13, 2009</a></td>
  </tr>
  </table>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<hr color="#000000" SIZE="5"></font>

</body>

</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>exh991.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>


<HTML>
<HEAD>
   <TITLE>Gildan Activewear Inc.: Exhibit 99.1 - Prepared by TNT Filings Inc.</TITLE>

</HEAD>

<BODY style="font-size:10pt;">

<div style="border-top-style: solid; border-top-width: 1; padding-top: 1">

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<!--$$/page=--><A name=page_1></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left width="50%" rowspan="2">&nbsp;
    <img border="0" src="gildan2.jpg" width="217" height="58"></TD>
    <TD align=right width="50%"><font size="5">News Release </font> </TD></TR>
  <TR vAlign=top>
    <TD align=right width="15%">&nbsp;</TD></TR></TABLE>
<P align=justify><B>For immediate release </B></P>
<P align=center><B><U><font size="5">Gildan Activewear Announces Fiscal 2009 Third Quarter
Results</font></U></B></P>
<P align=center><B>&#150;&nbsp; Gross Margins of 24.4% and EPS of U.S. $0.32 Before
Income Tax Recoveries and Restructuring Charges &nbsp;&#150; <BR>&#150;&nbsp;</B> <B>Free
Cash Flow of U.S. $78.5 million&nbsp; &#150; <BR>&#150;&nbsp;</B> <B>Completion of Canada
Revenue Agency Audit for 2004-2006&nbsp; &#150; </B></P>
<P align=justify><B>Montr&#233;al, Thursday, August 13, 2009</B> &#150; Gildan Activewear
Inc. (GIL; TSX and NYSE) today announced its financial results for the third
quarter of its 2009 fiscal year. The Company also announced that the Canada
Revenue Agency (CRA) had completed its audit of the Company&#146;s tax returns for
the audit period 2004-2006, with no significant adjustments to the returns as
filed. The CRA has continued to accept Gildan&#146;s transfer pricing methodology for
the years subject to audit. Gildan had previously announced the final settlement
of the CRA audit for the period 2000-2003. </P>
<P align=justify><U>Sales and Earnings</U></P>
<P align=justify>Gildan reported net earnings of U.S. $41.5 million and diluted
EPS of U.S. $0.34 for its third fiscal quarter ended July 5, 2009, compared with
net earnings of U.S. $54.5 million and diluted EPS of U.S. $0.45 in the third
quarter of fiscal 2008. Results in both years included after-tax restructuring
charges, amounting to U.S. $3.4 million and U.S. $2.3 million respectively.
Restructuring charges in the third quarter of fiscal 2009 related primarily to
the previously announced consolidation of sock finishing operations. Net
earnings before restructuring charges in the third quarter of fiscal 2009
amounted to U.S. $44.9 million or U.S. $0.37 per diluted share, compared to U.S.
$56.8 million or U.S. $0.47 per share a year ago. The reduction in net earnings
and EPS before restructuring charges was primarily due to lower unit sales
volumes, as a result of weak economic conditions, and lower gross margins,
primarily as a result of unfavourable product-mix and lower activewear net
selling prices, partially offset by lower SG&amp;A and financial expenses, and
the impact of income tax recoveries. EPS in the third quarter of fiscal 2009
included a U.S. $0.05 per share benefit of income tax recoveries related to
prior fiscal years. Before the impact of income tax recoveries, adjusted EPS in
the third fiscal quarter was U.S. $0.32 per share. </P>
<P align=justify>The third quarter of Gildan&#146;s current fiscal year included one
week fewer than the third quarter of fiscal 2008. The third quarter of fiscal
2008 included an extra week in order to align the Company&#146;s 52-week reporting
cycle with the calendar year. </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_2></A>
<P align=justify>Net sales in the third quarter of fiscal 2009 amounted to U.S.
$307.8 million, down 19.2% from U.S. $380.8 million in the third quarter of last
year. Sales of activewear and underwear were U.S. $258.1 million, down 15.6%
from U.S. $305.9 million last year, and sales of socks were U.S. $49.7 million,
down 33.6% from U.S. $74.9 million in the third quarter of fiscal 2008.</P>
<P align=justify>The decrease in sales of activewear and underwear was due to
more unfavourable product-mix, primarily as a result of a lower proportion of
sales of higher-valued fleece and long-sleeve T-shirts, a 2.6% decline in net
selling prices for activewear, due to increased promotional activity compared to
last year, the impact of the stronger U.S. dollar on Canadian and international
sales, and a 3.5% decline in unit sales volumes. </P>
<P align=justify>The reduction in unit sales volumes compared to last year was
primarily due to a 16.6% decline in overall industry shipments to screenprinters
in the U.S. wholesale distributor channel, as well as the non-recurrence of the
extra week of sales included in the third quarter of fiscal 2008. These factors
were largely offset by increased market share, replenishment of distributor
inventories, and increased shipments to international markets and imprinted
private label customers. </P>
<P align=justify>The table below summarizes data from the S.T.A.R.S. report
produced by ACNielsen Market Decisions, which tracks unit volume shipments from
U.S. wholesale distributors to U.S. screenprinters, for the calendar quarter
ended June 30, 2009: </P>
<DIV>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=center width="20%"
    colSpan=2>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=center width="20%"
    colSpan=2>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=center width="20%" colSpan=2><B>Three months ended</B> </TD>
    <TD align=center width="20%" colSpan=2><B>Three months ended</B> </TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=center width="20%" colSpan=2><B>June 30,</B> </TD>
    <TD align=center width="20%" colSpan=2><B>June 30,</B> </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center width="20%"
    colSpan=2><B>2009 vs. 2008</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      width="10%"><B>2009</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      width="10%"><B>2008</B> </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center width="20%"
    colSpan=2><B>Unit Growth</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center width="20%"
    colSpan=2><B>Market Share</B> </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      width="10%"><B>Gildan</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      width="10%"><B>Industry</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center width="20%"
    colSpan=2><B>Gildan</B> </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff>All products </TD>
    <TD align=center width="10%" bgColor=#e6efff><B>(9.6)%</B> </TD>
    <TD align=center width="10%" bgColor=#e6efff>(16.6)% </TD>
    <TD align=center width="10%" bgColor=#e6efff><B>55.7%</B> </TD>
    <TD align=center width="10%" bgColor=#e6efff>51.9% </TD></TR>
  <TR vAlign=top>
    <TD align=left>T-shirts </TD>
    <TD align=center width="10%"><B>(9.3)%</B> </TD>
    <TD align=center width="10%">(16.2)% </TD>
    <TD align=center width="10%"><B>56.4%</B> </TD>
    <TD align=center width="10%">52.6% </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff>Fleece </TD>
    <TD align=center width="10%" bgColor=#e6efff><B>(13.1)%</B> </TD>
    <TD align=center width="10%" bgColor=#e6efff>(15.0)% </TD>
    <TD align=center width="10%" bgColor=#e6efff><B>52.7%</B> </TD>
    <TD align=center width="10%" bgColor=#e6efff>51.7% </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left>Sport shirts </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=center
      width="10%"><B>(18.6)%</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=center
      width="10%">(26.6)% </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=center
      width="10%"><B>38.1%</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=center
      width="10%">34.6% </TD></TR></TABLE></DIV>
<P align=justify>Overall inventories in the U.S. wholesale distributor channel
at June 30, 2009 were down by 13.2% compared with a year ago, and Gildan&#146;s share
of distributor inventories was 49.5%, compared with its market share of 55.7% in
the third quarter as shown above.</P>
<P align=justify>In addition to the impact of one week less of sales in the
third quarter of fiscal 2009, the reduction in sock sales in the mass-retailer
channel was due to the discontinuance of sock product-lines in fiscal 2008,
combined with the timing impact of year-over-year fluctuations in retailer
inventory levels including the impact in the current year of the changeover to
new retailer private label brands. Sales of Gildan products by major retail
customers to consumers continue to perform well, in the context of the market,
and in particular the Company is pleased with the strong initial performance of
new private label sock brands.</P>
<P align=justify>The Company is progressing well in its discussions with mass
retailers to secure new retail programs, and continues to expect new retail
programs to enhance its sales growth in fiscal 2010 compared to fiscal 2009.
</P>
<P align=justify>Gross margins in the third quarter were 24.4%, compared to
26.6% last year and 15.8% in the second quarter of the current fiscal year. The
reduction in gross margins compared to last year was primarily due to lower net
selling prices for activewear,  the negative impact of currency fluctuations, more unfavourable product-mix and higher cotton costs.
These factors were partially
offset by lower manufacturing and energy costs, which favourably impacted gross
margins in the third quarter by approximately 450 basis points, in spite of
manufacturing downtime taken in the third quarter to balance activewear
inventories with projected sales demand. </P>
<P align=right>2 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
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<P align=justify>Gross margin trends improved on a monthly basis during the
third quarter. Gross margins are expected to improve slightly in the fourth
quarter compared to the third quarter, as more favourable product-mix and lower
manufacturing, energy and cotton costs compared to the third quarter are expected
to more than offset the impact of assumed increased promotional selling price
activity. </P>
<P align=justify>Selling, general and administrative expenses, were U.S. $36.2
million in the third quarter, or 11.8% of sales, compared to U.S. $39.8 million,
or 10.5% of sales, in the third quarter a year ago. The decrease in SG&amp;A
expenses was primarily due to reduced distribution costs, the impact of the
lower-valued Canadian dollar on corporate administrative expenses, and the
non-recurrence of an accounts receivable provision recorded in the prior year,
partially offset by the timing of variable compensation expense and higher
professional and legal fees. </P>
<P align=justify>An income tax recovery of U.S. $5.8 million in the third
quarter primarily reflected a U.S. $5.6 million recovery to recognize previously
unrecorded tax benefits from prior years. Excluding the impact of the tax
recoveries and the tax benefit relating to restructuring charges, the effective
income tax rates for the third quarter and the first nine months of fiscal 2009
were 2% and 3% respectively, compared with 5.8% and 6.7% for the corresponding
periods of fiscal 2008. The reduction in the effective income tax rate compared
with last year reflects a lower proportion of profits earned in higher tax-rate
jurisdictions. </P>
<P align=justify><U>Year-to-date Sales and Earnings</U> </P>
<P align=justify>Net sales for the nine months ended July 5, 2009 were U.S.
$736.6 million, down U.S. $188.4 million or 20.4% compared to the same period
last year. The decrease in net sales was due to a 13.3% decline in activewear
unit volumes, unfavourable activewear product-mix, a U.S. $39.2<B> </B>million
decrease in sock sales primarily due to the elimination of unprofitable sock
product-lines during fiscal 2008, and the negative impact of the stronger U.S.
dollar on Canadian and international activewear sales. The lower unit sales
volumes for activewear were primarily due to the decline in overall industry
unit shipments by U.S. wholesale distributors to screenprinters and inventory
reductions by U.S. wholesale distributors, which more than offset Gildan&#146;s
market share gains in the U.S. screenprint channel during the nine months ended
July 5, 2009.</P>
<P align=justify>Net earnings for the first nine months were U.S. $52.9 million,
or U.S. $0.44 per share on a diluted basis, compared with net earnings of U.S.
$124.5<B> </B>million or U.S. $1.02<B> </B>per share for the same period last
year. Before restructuring charges in both years, net earnings for the first
nine months of fiscal 2009 were U.S. $57.4 million, or U.S. $0.47 per share,
compared to U.S. $128.4<B> </B>million, or U.S. $1.06<B> </B>per share, for the
same period last year. The reduction in net earnings and EPS in the first nine
months of fiscal 2009 was due to significantly lower activewear unit sales
volumes and gross margins, partially offset by lower SG&amp;A and financial
expenses and the impact of the income tax recoveries in the third quarter. </P>
<P align=right>3 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
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<P align=justify><U>Cash Flows and Financial Position</U> </P>
<P align=justify>Cash flows from operating activities less cash flows from
investing activities resulted in free cash flow generation of U.S. $78.5 million
in the third quarter.</P>
<P align=justify>Inventories at the end of the third quarter were reduced by
U.S. $40.4<B> </B>million compared to the end of the second quarter, but were
U.S. $48.8 million higher than at the end of the third quarter of fiscal 2008,
when inventory levels were affected by production constraints. Further
manufacturing downtime will be scheduled as required prior to the year-end in
order to continue to control activewear inventories, based on the outlook for
end-use demand and the level of replenishment of distributor inventories. </P>
<P align=justify>Trade accounts receivables were reduced to 41 days of sales
outstanding at the end of the third quarter, compared to 51 days at the end of
the third quarter a year ago and 45 days at the end of second fiscal quarter.
The Company continues to be comfortable with its receivables collections and
trade credit exposures.</P>
<P align=justify>The Company ended the third quarter of fiscal 2009 with net
indebtedness of U.S. $18.5 million, and continues to have significant financing
capacity and flexibility under its revolving bank credit facility, which matures
in 2013. Capital expenditures for fiscal 2009 are currently projected to be
approximately U.S. $60-$70 million, in line with the Company&#146;s projection at the
end of the second quarter.</P>
<P align=justify>The Company continues to expect to have no debt outstanding
under its bank credit facility at the fiscal year-end. </P>
<P align=justify><U>Disclosure of Outstanding Share Data</U> </P>
<P align=justify>As of July 31, 2009, there were 120,956,937<B> </B>common
shares issued and outstanding along with 1,015,578 stock options and 757,806
dilutive restricted share units (&#147;Treasury RSUs&#148;) outstanding. Each stock option
entitles the holder to purchase one common share at the end of the vesting
period at a pre-determined option price. Each Treasury RSU entitles the holder
to receive one common share from treasury at the end of the vesting period,
without any monetary consideration being paid to the Company. However, the
vesting of 50% of the Treasury RSU grant is dependent upon the financial performance
of the Company, relative to a benchmark group of Canadian publicly-listed
companies. </P>
<P align=right>4 </P>
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<!--$$/page=--><A name=page_5></A>
<P align=justify><U>Financial Highlights</U> </P>
<DIV>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="10%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=right width="10%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="10%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=right width="10%"
    >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="10%" >&nbsp; </TD>
    <TD align=right width="10%" >Q3 2008 </TD>
    <TD align=left width="10%" >&nbsp; </TD>
    <TD align=right width="10%" >YTD 2008 </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left><I>(in US$
      millions, except per share amounts or otherwise indicated)</I> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"
    ><B>Q3 2009</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"
    >Recast* </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"
    ><B>YTD 2009</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"
    >Recast* </TD></TR>
  <TR>
    <TD bgColor=#e6efff><BR>Net sales </TD>
    <TD align=right width="10%" bgColor=#e6efff ><BR><B>307.8</B>
    </TD>
    <TD align=right width="10%" bgColor=#e6efff ><BR>380.8 </TD>
    <TD align=right width="10%" bgColor=#e6efff ><BR><B>736.6</B>
    </TD>
    <TD align=right width="10%" bgColor=#e6efff ><BR>925.0 </TD></TR>
  <TR vAlign=top>
    <TD align=left>Gross profit </TD>
    <TD align=right width="10%" ><B>75.1</B> </TD>
    <TD align=right width="10%" >101.3 </TD>
    <TD align=right width="10%" ><B>152.7</B> </TD>
    <TD align=right width="10%" >251.4 </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff>Selling, general and administrative
      expenses (SG&amp;A) </TD>
    <TD align=right width="10%" bgColor=#e6efff ><B>36.2</B> </TD>
    <TD align=right width="10%" bgColor=#e6efff >39.8 </TD>
    <TD align=right width="10%" bgColor=#e6efff ><B>100.6</B> </TD>
    <TD align=right width="10%" bgColor=#e6efff >106.1 </TD></TR>
  <TR vAlign=top>
    <TD align=left>Operating income </TD>
    <TD align=right width="10%" ><B>34.5</B> </TD>
    <TD align=right width="10%" >59.2 </TD>
    <TD align=right width="10%" ><B>46.6</B> </TD>
    <TD align=right width="10%" >141.4 </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff>EBITDA (1) </TD>
    <TD align=right width="10%" bgColor=#e6efff ><B>58.1</B> </TD>
    <TD align=right width="10%" bgColor=#e6efff >79.0 </TD>
    <TD align=right width="10%" bgColor=#e6efff ><B>99.1</B> </TD>
    <TD align=right width="10%" bgColor=#e6efff >186.3 </TD></TR>
  <TR vAlign=top>
    <TD align=left>Net earnings and comprehensive income </TD>
    <TD align=right width="10%" ><B>41.5</B> </TD>
    <TD align=right width="10%" >54.5 </TD>
    <TD align=right width="10%" ><B>52.9</B> </TD>
    <TD align=right width="10%" >124.5 </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff style="border-bottom-style: solid; border-bottom-width: 1">Adjusted net earnings (2) </TD>
    <TD align=right width="10%" bgColor=#e6efff style="border-bottom-style: solid; border-bottom-width: 1" ><B>44.9</B> </TD>
    <TD align=right width="10%" bgColor=#e6efff style="border-bottom-style: solid; border-bottom-width: 1" >56.8 </TD>
    <TD align=right width="10%" bgColor=#e6efff style="border-bottom-style: solid; border-bottom-width: 1" ><B>57.4</B> </TD>
    <TD align=right width="10%" bgColor=#e6efff style="border-bottom-style: solid; border-bottom-width: 1" >128.4 </TD></TR>
  <TR>
    <TD style="border-bottom-style: none; border-bottom-width: medium; border-top-color:#C0C0C0">&nbsp;</TD>
    <TD align=right width="10%" style="border-bottom-style: none; border-bottom-width: medium; border-top-color:#C0C0C0" >&nbsp;</TD>
    <TD align=right width="10%" style="border-bottom-style: none; border-bottom-width: medium; border-top-color:#C0C0C0" >&nbsp;</TD>
    <TD align=right width="10%" style="border-bottom-style: none; border-bottom-width: medium; border-top-color:#C0C0C0" >&nbsp;</TD>
    <TD align=right width="10%" style="border-bottom-style: none; border-bottom-width: medium; border-top-color:#C0C0C0" >&nbsp;</TD></TR>
  <TR>
    <TD style="border-top: medium none #C0C0C0; border-bottom-style: none; border-bottom-width: medium">Diluted EPS </TD>
    <TD align=right width="10%" style="border-top: medium none #C0C0C0; border-bottom-style: none; border-bottom-width: medium" ><B>0.34</B> </TD>
    <TD align=right width="10%" style="border-top: medium none #C0C0C0; border-bottom-style: none; border-bottom-width: medium" >0.45 </TD>
    <TD align=right width="10%" style="border-top: medium none #C0C0C0; border-bottom-style: none; border-bottom-width: medium" ><B>0.44</B> </TD>
    <TD align=right width="10%" style="border-top: medium none #C0C0C0; border-bottom-style: none; border-bottom-width: medium" >1.02 </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff style="border-top: medium none #C0C0C0; border-bottom-style: solid; border-bottom-width: 1">Adjusted diluted EPS &#150; (2) </TD>
    <TD align=right width="10%" bgColor=#e6efff style="border-top: medium none #C0C0C0; border-bottom-style: solid; border-bottom-width: 1" ><B>0.37</B> </TD>
    <TD align=right width="10%" bgColor=#e6efff style="border-top: medium none #C0C0C0; border-bottom-style: solid; border-bottom-width: 1" >0.47 </TD>
    <TD align=right width="10%" bgColor=#e6efff style="border-top: medium none #C0C0C0; border-bottom-style: solid; border-bottom-width: 1" ><B>0.47</B> </TD>
    <TD align=right width="10%" bgColor=#e6efff style="border-top: medium none #C0C0C0; border-bottom-style: solid; border-bottom-width: 1" >1.06 </TD></TR>
  <TR>
    <TD><BR>Gross margin </TD>
    <TD align=right width="10%" ><BR><B>24.4%</B> </TD>
    <TD align=right width="10%" ><BR>26.6% </TD>
    <TD align=right width="10%" ><BR><B>20.7%</B> </TD>
    <TD align=right width="10%" ><BR>27.2% </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff>SG&amp;A as a percentage of sales </TD>
    <TD align=right width="10%" bgColor=#e6efff ><B>11.8%</B> </TD>
    <TD align=right width="10%" bgColor=#e6efff >10.5% </TD>
    <TD align=right width="10%" bgColor=#e6efff ><B>13.7%</B> </TD>
    <TD align=right width="10%" bgColor=#e6efff >11.5% </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>Operating margin
    </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"
    ><B>11.2%</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"
    >15.6% </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"
    ><B>6.3%</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"
    >15.3% </TD></TR>
  <TR>
    <TD bgColor=#e6efff><BR>Cash flows from operations </TD>
    <TD align=right width="10%" bgColor=#e6efff ><BR><B>80.6</B>
    </TD>
    <TD align=right width="10%" bgColor=#e6efff ><BR>40.7 </TD>
    <TD align=right width="10%" bgColor=#e6efff ><BR><B>47.1</B>
    </TD>
    <TD align=right width="10%" bgColor=#e6efff ><BR>168.4 </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>Free cash flow (3)
    </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"
    ><B>78.5</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"
    >21.5 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"
    ><B>19.4</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"
    >92.2 </TD></TR>
  <TR>
    <TD style="BORDER-BOTTOM: #000000 1px solid"><BR><BR><I>As at</I> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"
    ><BR><B>July 5,</B> <BR><B>2009</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"
    ><BR>October 5, <BR>2008 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"
    ><BR>July 6, <BR>2008 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"
    ><BR><BR></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff>Inventories </TD>
    <TD align=right width="10%" bgColor=#e6efff ><B>339.6</B> </TD>
    <TD align=right width="10%" bgColor=#e6efff >316.2 </TD>
    <TD align=right width="10%" bgColor=#e6efff >290.8 </TD>
    <TD align=right width="10%" bgColor=#e6efff >&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left>Accounts receivable </TD>
    <TD align=right width="10%" ><B>194.1</B> </TD>
    <TD align=right width="10%" >222.2 </TD>
    <TD align=right width="10%" >254.5 </TD>
    <TD align=right width="10%" >&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left
      bgColor=#e6efff>Net indebtedness (4) </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=right width="10%"
    bgColor=#e6efff ><B>18.5</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=right width="10%"
    bgColor=#e6efff >40.6 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=right width="10%"
    bgColor=#e6efff >95.3 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=right width="10%"
    bgColor=#e6efff >&nbsp; </TD></TR></TABLE></DIV>
<P align=justify><I>* Reflects the impact of the changes in accounting policy as
described in Note 3 to the unaudited interim consolidated</I> <I>financial
statements <br>
</I>(1), (2), (3), (4): Please refer to Non-GAAP Financial Measures
on page 7 of this press release.<I> </I></P>
<P align=justify><U>Information for Shareholders</U> </P>
<P align=justify>This release should be read in conjunction with Gildan&#146;s 2009
Third Quarter MD&amp;A dated August 12, 2009 and its interim consolidated
financial statements for the three and nine months ended July 5, 2009 (available
at <font color="#0000FF"> <U>http://gildan.com/corporate/IR/quarterlyReports.cfm</U></font>) which is
incorporated by reference in this release, filed by Gildan with the Canadian
securities regulatory authorities and with the U.S. Securities and Exchange
Commission. </P>
<P align=justify>Gildan Activewear Inc. will hold a conference call to discuss
these results today at 8:30 AM EDT. The conference call can be accessed by
dialing 800-261-3417<B> </B>(Canada &amp; U.S.) or 617-614-3673 (international)
and entering passcode 41809019, or by live sound webcast on Gildan's Internet
site ("Investor Relations" section) at the following address:
<font color="#0000FF">
<U>http://gildan.com/corporate/IR/webcastPresentations.cfm</U></font>. If you are
unable to participate in the conference call, a replay will be available
starting that same day at 11:30 AM EDT by dialing 888-286-8010 (Canada &amp;
U.S.) or 617-801-6888 (international) and entering passcode 86204863, until
August 20, 2009 at midnight, or by sound web cast on Gildan's Internet site for
30 days. </P>
<P align=right>5 </P>
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<!--$$/page=--><A name=page_6></A>
<P align=justify><U>Profile</U></P>
<P align=justify>Gildan is a vertically-integrated marketer and manufacturer of
quality branded basic apparel. The Company is the leading supplier of activewear
for the screenprint channel in the U.S. and Canada. It is also a leading
supplier to this market in Europe, and is establishing a growing presence in
Mexico and the Asia-Pacific region. The Company sells T-shirts, sport shirts and
fleece in large quantities to wholesale distributors as undecorated &#147;blanks&#148;,
which are subsequently decorated by screenprinters with designs and logos.
Consumers ultimately purchase the Company&#146;s products, with the Gildan label, in
venues such as sports, entertainment and corporate events, and travel and
tourism destinations. The Company&#146;s products are also utilized for work uniforms
and other end-uses to convey individual, group and team identity. The Company is
also a leading supplier of private label and Gildan branded socks primarily sold
to mass-market retailers. In addition, Gildan has an objective to become a
significant supplier of men&#146;s and boys&#146; underwear and undecorated activewear
products to mass-market retailers in North America.</P>
<P align=justify><I><U>Forward-Looking Statements</U></I><I> </I></P>
<P align=justify><I>Certain statements included in this press release constitute
&#147;forward-looking statements&#148; within the meaning of the U.S. Private Securities
Litigation Reform Act of 1995 and Canadian securities legislation and
regulations, and are subject to important risks, uncertainties and assumptions.
This forward-looking information includes, amongst others, information with
respect to our objectives and the strategies to achieve these objectives, as
well as information with respect to our beliefs, plans, expectations,
anticipations, estimates and intentions. Forward-looking statements generally
can be identified by the use of conditional or forward-looking terminology such
as &#147;may&#148;, &#147;will&#148;, &#147;expect&#148;, &#147;intend&#148;, &#147;estimate&#148;, &#147;project&#148;, &#147;assume&#148;,
&#147;anticipate&#148;, &#147;plan&#148;, &#147;foresee&#148;, &#147;believe&#148; or &#147;continue&#148; or the negatives of
these terms or variations of them or similar terminology. We refer you to the
Company&#146;s filings with the Canadian securities regulatory authorities and the
U.S. Securities and Exchange Commission, as well as the &#147;Risks and
Uncertainties&#148; section and the risks described under the section &#147;Financial Risk
Management&#148; of the 2008 Annual MD&amp;A, as subsequently updated in our first,
second and third quarter 2009 interim MD&amp;A, for a discussion of the various
factors that may affect the Company&#146;s future results. Material factors and
assumptions that were applied in drawing a conclusion or making a forecast or
projection are also set out throughout this press release. </I></P>
<P align=justify><I>Forward-looking information is inherently uncertain and
results or events predicted in such forward-looking information may differ
materially from actual results or events. Material factors, which could cause
actual results or events to differ materially from a conclusion, forecast or
projection in such forward-looking information, include, but are not limited to:
general economic conditions such as commodity prices, currency exchange rates,
interest rates and other factors over which we have no control; the impact of
economic and business conditions, industry trends and other external, political
and social factors in the countries in which we operate, including the current
political instability in Honduras; the intensity of competitive activity;
changes in environmental, tax, trade, employment, consumer product safety and
other laws and regulations, including effects of the recently enacted United
States Consumer Products Safety Act; our ability to implement our strategies and
plans; our ability to complete and successfully integrate acquisitions; our
reliance on a small number of significant customers; changes in consumer
preferences, customer demand for our products and our ability to maintain customer relationships and grow our business; the fact that
our customers do not commit to minimum quantity purchases; the seasonality of
our business; our ability to attract and retain key personnel; our reliance on
computerized information systems; changes in accounting policies and estimates;
and disruption to manufacturing and distribution activities due to labour
disruptions, political instability, bad weather, natural disasters and other
unforeseen adverse events.
</I></P>
<P align=right>6 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
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<!--$$/page=--><A name=page_7></A>
<P align=justify><I>These factors may cause the Company&#146;s actual performance and
financial results in future periods to differ materially from any estimates or
projections of future performance or results expressed or implied by such
forward-looking statements. Forward-looking statements do not take into account
the effect that transactions or non-recurring or other special items announced
or occurring after the statements are made have on the Company&#146;s business. For
example, they do not include the effect of business dispositions, acquisitions,
other business transactions, asset writedowns or other charges announced or
occurring after forward-looking statements are made. The financial impact of
such transactions and non-recurring and other special items can be complex and
necessarily depends on the facts particular to each of them.</I></P>
<P align=justify><I>We believe that the expectations represented by our
forward-looking statements are reasonable, yet there can be no assurance that
such expectations will prove to be correct. The purpose of the forward-looking
statements is to provide the reader with a description of management&#146;s
expectations regarding the Company&#146;s fiscal 2009 financial performance and may
not be appropriate for other purposes. Furthermore, unless otherwise stated, the
forward-looking statements contained in this press release are made as of the
date of this press release, and we do not undertake any obligation to update
publicly or to revise any of the included forward-looking statements, whether as
a result of new information, future events or otherwise unless required by
applicable legislation or regulation. The forward-looking statements contained
in this press release are expressly qualified by this cautionary statement.
</I></P>
<P align=justify><I><U>Non-GAAP Financial Measures</U></I><I> </I></P>
<P align=justify><I>This release includes reference to certain non-GAAP
financial measures such as EBITDA, adjusted net earnings, adjusted diluted EPS,
free cash flow and net indebtedness. These non-GAAP measures do not have any
standardized meanings prescribed by Canadian GAAP and are therefore unlikely to
be comparable to similar measures presented by other companies. Accordingly,
they should not be considered in isolation. The terms and definitions of the
non-GAAP measures used in this press release and a reconciliation of each
non-GAAP measure to the most directly comparable GAAP measure are provided
below.</I></P>
<P align=justify>(1) EBITDA </P>
<P align=justify><I>EBITDA is calculated as earnings before interest, taxes and
depreciation and amortization and excludes the impact of restructuring and other
charges, as well as the non-controlling interest in consolidated joint venture.
The Company uses EBITDA, among other measures, to assess the operating
performance of our business. We also believe this measure is commonly used by
investors and analysts to measure a company&#146;s ability to service debt and to
meet other payment obligations, or as a common valuation measurement. We exclude
depreciation and amortization expenses, which are non-cash in nature and can vary significantly depending upon
accounting methods or non-operating factors such as historical cost. Excluding
these items does not imply they are necessarily non-recurring.</I></P>
<P align=right>7 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_8></A>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="10%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="2%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=right width="10%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="2%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="10%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="2%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=right width="10%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="2%"
    >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=left width="10%">&nbsp; </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="10%">Q3 2008 </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=left width="10%">&nbsp; </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="10%">YTD 2008 </TD>
    <TD align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left><I>(in US$
      millions)</I> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"><B>Q3
      2009</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right
      width="10%">Recast* </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right
      width="10%"><B>YTD 2009</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right
      width="10%">Recast* </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
    >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff>Net earnings </TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff><B>41.5</B> </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff>54.5 </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff><B>52.9</B> </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff>124.5 </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left>Restructuring and other charges </TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="10%"><B>4.4</B> </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="10%">2.3 </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="10%"><B>5.5</B> </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="10%">3.9 </TD>
    <TD align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff>Depreciation and amortization </TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff><B>16.3</B> </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff>14.9 </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff><B>48.4</B> </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff>41.9 </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left>Variation in depreciation included in inventories </TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="10%"><B>1.2</B> </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="10%">2.5 </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="10%"><B>(4.3</B></TD>
    <TD align=left width="2%" ><B>)</B> </TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="10%">0.4 </TD>
    <TD align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff>Interest, net </TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff><B>0.2</B> </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff>1.2 </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff><B>1.6</B> </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff>6.1 </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left>Income taxes</TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="10%"><B>(5.8</B></TD>
    <TD align=left width="2%" ><B>)</B> </TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="10%">3.4 </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="10%"><B>(5.0</B></TD>
    <TD align=left width="2%" ><B>)</B> </TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="10%">9.1 </TD>
    <TD align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left
      bgColor=#e6efff>Non-controlling interest of consolidated joint venture </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
     bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"
    bgColor=#e6efff><B>0.3</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
     bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
     bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"
    bgColor=#e6efff>0.2 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
     bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
     bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"
    bgColor=#e6efff><B>-</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
     bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
     bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"
    bgColor=#e6efff>0.4 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
     bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left>EBITDA </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=right
      width="10%"><B>58.1</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="2%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=right width="10%">79.0
    </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="2%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=right
      width="10%"><B>99.1</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="2%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=right width="10%">186.3
    </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="2%"
    >&nbsp;</TD></TR></TABLE>
<P align=justify><I>* Reflects the impact of the change in accounting policy as
described in Note 3 to the unaudited interim consolidated</I> <I>financial
statements. <br>
Certain minor rounding variances exist between the financial
statements and this summary. </I></P>
<P align=justify>(2) Adjusted net earnings and adjusted diluted EPS </P>
<P align=justify><I>Adjusted net earnings and adjusted diluted earnings are
calculated as net earnings and earnings per share excluding restructuring and
other charges, as discussed in Note 8 to the unaudited interim consolidated
financial statements. The Company uses and presents these non-GAAP measures to
assess its operating performance from one period to the next without the
variation caused by restructuring and other charges that could potentially
distort the analysis of trends in our business performance. Excluding these
items does not imply they are necessarily non-recurring. </I></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left valign="bottom"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="1%" valign="bottom"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="10%" valign="bottom"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="2%" valign="bottom"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="1%" valign="bottom"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=right width="10%" valign="bottom"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="2%" valign="bottom"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="1%" valign="bottom"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="10%" valign="bottom"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="2%" valign="bottom"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="1%" valign="bottom"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=right width="10%" valign="bottom"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="2%" valign="bottom"
    >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left valign="bottom">&nbsp; </TD>
    <TD align=left width="1%" valign="bottom" >&nbsp;</TD>
    <TD align=left width="10%" valign="bottom">&nbsp; </TD>
    <TD align=left width="2%" valign="bottom" >&nbsp;</TD>
    <TD align=left width="1%" valign="bottom" >&nbsp;</TD>
    <TD align=right width="10%" valign="bottom">Q3 2008 </TD>
    <TD align=left width="2%" valign="bottom" >&nbsp;</TD>
    <TD align=left width="1%" valign="bottom" >&nbsp;</TD>
    <TD align=left width="10%" valign="bottom">&nbsp; </TD>
    <TD align=left width="2%" valign="bottom" >&nbsp;</TD>
    <TD align=left width="1%" valign="bottom" >&nbsp;</TD>
    <TD align=right width="10%" valign="bottom">YTD 2008 </TD>
    <TD align=left width="2%" valign="bottom" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left valign="bottom"><I>(in US$
      millions, except per share amounts)</I> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%" valign="bottom"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%" valign="bottom"><B>Q3
      2009</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%" valign="bottom"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%" valign="bottom"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right
      width="10%" valign="bottom">Recast* </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%" valign="bottom"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%" valign="bottom"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right
      width="10%" valign="bottom"><B>YTD 2009</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%" valign="bottom"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%" valign="bottom"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right
      width="10%" valign="bottom">Recast* </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%" valign="bottom"
    >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff valign="bottom">Net earnings and comprehensive income </TD>
    <TD align=left width="1%"  bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff valign="bottom"><B>41.5</B> </TD>
    <TD align=left width="2%"  bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff valign="bottom">54.5 </TD>
    <TD align=left width="2%"  bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff valign="bottom"><B>52.9</B> </TD>
    <TD align=left width="2%"  bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff valign="bottom">124.5 </TD>
    <TD align=left width="2%"  bgColor=#e6efff valign="bottom">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left valign="bottom">Adjustments for: </TD>
    <TD align=left width="1%" valign="bottom" >&nbsp;</TD>
    <TD align=left width="10%" valign="bottom">&nbsp; </TD>
    <TD align=left width="2%" valign="bottom" >&nbsp;</TD>
    <TD align=left width="1%" valign="bottom" >&nbsp;</TD>
    <TD align=left width="10%" valign="bottom">&nbsp; </TD>
    <TD align=left width="2%" valign="bottom" >&nbsp;</TD>
    <TD align=left width="1%" valign="bottom" >&nbsp;</TD>
    <TD align=left width="10%" valign="bottom">&nbsp; </TD>
    <TD align=left width="2%" valign="bottom" >&nbsp;</TD>
    <TD align=left width="1%" valign="bottom" >&nbsp;</TD>
    <TD align=left width="10%" valign="bottom">&nbsp; </TD>
    <TD align=left width="2%" valign="bottom" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff valign="bottom">&nbsp; &nbsp;Restructuring and other
      charges </TD>
    <TD align=left width="1%"  bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff valign="bottom"><B>4.4</B> </TD>
    <TD align=left width="2%"  bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff valign="bottom">2.3 </TD>
    <TD align=left width="2%"  bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff valign="bottom"><B>5.5</B> </TD>
    <TD align=left width="2%"  bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff valign="bottom">3.9 </TD>
    <TD align=left width="2%"  bgColor=#e6efff valign="bottom">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left valign="bottom">&nbsp;&nbsp;
      Income tax recovery on restructuring <BR>&nbsp;&nbsp;&nbsp;&nbsp; and
      other charges </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%" valign="bottom"
    ><BR></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right
      width="10%" valign="bottom"><BR><B>(1.0</B></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%" valign="bottom"
    ><BR><B>)</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%" valign="bottom"
    ><BR></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%" valign="bottom"><BR>-
    </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%" valign="bottom"
    ><BR></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%" valign="bottom"
    ><BR></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right
      width="10%" valign="bottom"><BR><B>(1.0</B></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%" valign="bottom"
    ><BR><B>)</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%" valign="bottom"
    ><BR></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%" valign="bottom"><BR>-
    </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%" valign="bottom"
    ><BR></TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left
      bgColor=#e6efff valign="bottom">Adjusted net earnings </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="1%"
     bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=right width="10%"
    bgColor=#e6efff valign="bottom"><B>44.9</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="2%"
     bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="1%"
     bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=right width="10%"
    bgColor=#e6efff valign="bottom">56.8 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="2%"
     bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="1%"
     bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=right width="10%"
    bgColor=#e6efff valign="bottom"><B>57.4</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="2%"
     bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="1%"
     bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=right width="10%"
    bgColor=#e6efff valign="bottom">128.4 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="2%"
     bgColor=#e6efff valign="bottom">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left valign="bottom"><br>
    Basic EPS**</TD>
    <TD align=left width="1%" valign="bottom" >&nbsp;</TD>
    <TD align=right width="10%" valign="bottom"><B>0.34</B> </TD>
    <TD align=left width="2%" valign="bottom" >&nbsp;</TD>
    <TD align=left width="1%" valign="bottom" >&nbsp;</TD>
    <TD align=right width="10%" valign="bottom">0.45 </TD>
    <TD align=left width="2%" valign="bottom" >&nbsp;</TD>
    <TD align=left width="1%" valign="bottom" >&nbsp;</TD>
    <TD align=right width="10%" valign="bottom"><B>0.44</B> </TD>
    <TD align=left width="2%" valign="bottom" >&nbsp;</TD>
    <TD align=left width="1%" valign="bottom" >&nbsp;</TD>
    <TD align=right width="10%" valign="bottom">1.03 </TD>
    <TD align=left width="2%" valign="bottom" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff valign="bottom">Diluted EPS**</TD>
    <TD align=left width="1%"  bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff valign="bottom"><B>0.34</B> </TD>
    <TD align=left width="2%"  bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff valign="bottom">0.45 </TD>
    <TD align=left width="2%"  bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff valign="bottom"><B>0.44</B> </TD>
    <TD align=left width="2%"  bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff valign="bottom">1.02 </TD>
    <TD align=left width="2%"  bgColor=#e6efff valign="bottom">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left valign="bottom">Adjusted diluted
      EPS**</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="1%" valign="bottom"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=right
      width="10%" valign="bottom"><B>0.37</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="2%" valign="bottom"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="1%" valign="bottom"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=right width="10%" valign="bottom">0.47
    </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="2%" valign="bottom"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="1%" valign="bottom"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=right
      width="10%" valign="bottom"><B>0.47</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="2%" valign="bottom"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="1%" valign="bottom"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=right width="10%" valign="bottom">1.06
    </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="2%" valign="bottom"
    >&nbsp;</TD></TR></TABLE>
<P align=justify><I>* Reflects the impact of the change in accounting policy as
described in Note 3 to the unaudited interim consolidated</I> <I>financial
statements. <br>
** Quarterly EPS may not add to year-to-date EPS due to
rounding<br>
Certain minor rounding variances exist between the financial
statements and this summary. </I></P>
<P align=right>8 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_9></A>
<P align=justify>(3) Free cash flow</P>
<P align=justify><I>Free cash flow is defined as cash from operating activities
including net changes in non-cash working capital balances, less cash flow used
in investing activities excluding business acquisitions. We consider free cash
flow to be an important indicator of the financial strength and performance of
our business, because it shows how much cash is available after capital
expenditures to repay debt and to reinvest in our business. We believe this
measure is commonly used by investors and analysts when valuing a business and
its underlying assets. </I></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=right width="10%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="2%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=right width="10%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="2%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=right width="10%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="2%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=right width="10%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="2%"
    >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left><I>(in US$
      millions)</I> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"><B>Q3
      2009</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%">Q3
      2008 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right
      width="10%"><B>YTD 2009</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%">YTD
      2008 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
    >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff>Cash flows from operating activities </TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff><B>80.6</B> </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff>40.7 </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff><B>47.1</B> </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff>168.4 </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left>Cash flows used in investing activities </TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="10%"><B>(2.1</B></TD>
    <TD align=left width="2%" ><B>)</B> </TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="10%">(19.2</TD>
    <TD align=left width="2%" >) </TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="10%"><B>(25.7</B></TD>
    <TD align=left width="2%" ><B>)</B> </TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="10%">(213.0</TD>
    <TD align=left width="2%" >) </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff>Adjustments for: </TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="10%" bgColor=#e6efff>&nbsp; </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="10%" bgColor=#e6efff>&nbsp; </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="10%" bgColor=#e6efff>&nbsp; </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="10%" bgColor=#e6efff>&nbsp; </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; &nbsp;Business acquisitions </TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="10%"><B>-</B> </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="10%">- </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="10%"><B>-</B> </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="10%">126.8 </TD>
    <TD align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left
      bgColor=#e6efff>&nbsp; &nbsp;Restricted cash (received) paid related to
      acquisition </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
     bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"
    bgColor=#e6efff><B>-</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
     bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
     bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"
    bgColor=#e6efff>- </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
     bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
     bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"
    bgColor=#e6efff><B>(2.0</B></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
     bgColor=#e6efff><B>)</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
     bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"
    bgColor=#e6efff>10.0 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
     bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left>Free cash flow </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=right
      width="10%"><B>78.5</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="2%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=right width="10%">21.5
    </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="2%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=right
      width="10%"><B>19.4</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="2%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=right width="10%">92.2
    </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="2%"
    >&nbsp;</TD></TR></TABLE>
<P align=justify><I>Certain minor rounding variances exist between the financial
statements and this summary.</I> </P>
<P align=justify>(4) Net indebtedness </P>
<P align=justify><I>We consider total indebtedness and net indebtedness to be
important indicators of the financial leverage of the Company.</I><I> </I></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=right width="10%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="2%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=right width="10%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="2%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=right width="10%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="2%"
    >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left><I>(in US$
      millions)</I> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"><B>Q3
      2009</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%">Q4
      2008 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%">Q3
      2008 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
    >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff>Current portion of long-term debt </TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff><B>2.8</B> </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff>3.6 </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff>3.8 </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>Long-term debt </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right
      width="10%"><B>90.2</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%">49.4
    </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%">104.7
    </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
    >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff><B>Total indebtedness</B> </TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff><B>93.0</B> </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff>53.0 </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff>108.5 </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD></TR>
  <TR>
    <TD style="BORDER-BOTTOM: #000000 1px solid"><BR>Cash and cash equivalents
    </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" width="1%"
    ><BR></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right
      width="10%"><BR><B>(74.5</B></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" width="2%"
      ><BR><B>)</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" width="1%"
    ><BR></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right
      width="10%"><BR>(12.4</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" width="2%"
      ><BR>) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" width="1%"
    ><BR></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right
      width="10%"><BR>(13.2</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" width="2%"
      ><BR>) </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left
      bgColor=#e6efff><B>Net indebtedness</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="1%"
     bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=right width="10%"
    bgColor=#e6efff><B>18.5</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="2%"
     bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="1%"
     bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=right width="10%"
    bgColor=#e6efff>40.6 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="2%"
     bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="1%"
     bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=right width="10%"
    bgColor=#e6efff>95.3 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="2%"
     bgColor=#e6efff>&nbsp;</TD></TR></TABLE>
<P align=justify><I>Certain minor rounding variances exist between the financial
statements and this summary.</I> </P>
<P align=center><I>- 30 -</I> </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left><B>CONTACTS:</B> </TD>
    <TD align=left width="33%">&nbsp; </TD>
    <TD align=left width="33%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left><B>Investor Relations</B> </TD>
    <TD align=left width="33%">&nbsp; </TD>
    <TD align=left width="33%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left>Laurence G. Sellyn, </TD>
    <TD align=left width="33%">Sophie Argiriou, </TD>
    <TD align=left width="33%">Benoit Leroux, </TD></TR>
  <TR vAlign=top>
    <TD align=left>Executive Vice-President, </TD>
    <TD align=left width="33%">Director, </TD>
    <TD align=left width="33%">Director, </TD></TR>
  <TR vAlign=top>
    <TD align=left>Chief Financial and Administrative </TD>
    <TD align=left width="33%">Investor Communications </TD>
    <TD align=left width="33%">Corporate Development </TD></TR>
  <TR vAlign=top>
    <TD align=left>Officer </TD>
    <TD align=left width="33%">Tel: (514) 343-8815 </TD>
    <TD align=left width="33%">Tel: (514) 343-8898 </TD></TR>
  <TR vAlign=top>
    <TD align=left>Tel: (514) 343-8805 </TD>
    <TD align=left width="33%">Email: <font color="#0000FF"> <U>sargiriou@gildan.com</U>
    </font> </TD>
    <TD align=left width="33%">Email: <font color="#0000FF"> <U>bleroux@gildan.com</U></font> </TD></TR>
  <TR vAlign=top>
    <TD align=left>Email: <font color="#0000FF"> <U>lsellyn@gildan.com</U>
    </font> </TD>
    <TD align=left width="33%">&nbsp; </TD>
    <TD align=left width="33%">&nbsp; </TD></TR>
  <TR>
    <TD>&nbsp; </TD>
    <TD width="33%">&nbsp; </TD>
    <TD width="33%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left><B>Media Relations</B> </TD>
    <TD align=left width="33%">&nbsp; </TD>
    <TD align=left width="33%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left>Genevi&#232;ve Gosselin<B>,</B> </TD>
    <TD align=left width="33%">&nbsp; </TD>
    <TD align=left width="33%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left>Director, Corporate Communications </TD>
    <TD align=left width="33%">&nbsp; </TD>
    <TD align=left width="33%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left>Tel: (514) 343-8814 </TD>
    <TD align=left width="33%">&nbsp; </TD>
    <TD align=left width="33%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left>Email: <font color="#0000FF"> <U>ggosselin@gildan.com</U>
    </font> </TD>
    <TD align=left width="33%">&nbsp; </TD>
    <TD align=left width="33%">&nbsp; </TD></TR></TABLE>
<P align=right>9 </P>
<HR align=center width="100%" color=black noShade SIZE=5>

</BODY>

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<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>3
<FILENAME>gildan2.jpg
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`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
