October 4, 2006 (Madison, Wis.) – Pacific Cycle Chairman and Chief Executive Officer Chris Hornung will leave the company he founded at the end of this year. Hornung’s departure is in accordance with the agreement concluded when Dorel Industries Inc. (TSX: DII.SV, DII.MV; NASDAQ: DIIB) acquired Pacific Cycle in early 2004. Jeff Frehner, part of the Pacific Cycle management team inherited by Dorel, has been President and COO since April 2005. Frehner will take full control of the company on January 1, 2007 as part of an orderly succession plan.

“I made a three-year commitment to Dorel to run Pacific when they purchased us in early 2004,” said Hornung.” Dorel has been very supportive and has treated me very well. This is just a good time for me to move on. I have been able to lead the company on a record growth rate but now Pacific’s management team is ready to continue that trend.”

Hornung began his dynamic career in the bicycle industry as a student at the University of Wisconsin, Madison. As a senior pursuing an economics degree, Chris managed a Madison bike shop. Later, while working at a Madison electronics store, he developed the idea to import bicycles and fitness products as sales premiums and promotional items.

In 1979, Chris founded Pacific Cycle. The company pioneered the sourcing of bicycles from the Far East for distribution in the U.S., developing relationships with suppliers primarily in Taiwan and China. The company leveraged these relationships to develop a line of high quality products at some of the most compelling price points in the industry. Through the 1990s, the company broadened its product offering and built strong relationships with leading retailers such as Target and Toys “R” Us.

After years of success, Pacific Cycle purchased the Mongoose, Mongoose Pro, Roadmaster and Flexible Flyer brands from Brunswick, Wal-Mart’s largest bicycle supplier, in December 2000. In September 2001, Pacific Cycle purchased the cycling division of Schwinn/GT Corporation.

Pacific Cycle now sells more bicycles than any other company in North America and is one of the most prolific bicycle suppliers in the world, selling products in more than 65 countries via more than 60 international distributors. The company has also expanded the Schwinn brand with its Schwinn motor scooter line, as well as with its lines of swing sets and electric toys and other business initiatives.

In 2004 Dorel Industries, Inc. (TSX: DII.SV, DII.MV; NASDAQ: DIIB) purchased Pacific Cycle for $310 million. Dorel is a global consumer products company engaged in the designing, manufacturing and marketing of a diverse portfolio of powerful consumer brands, sold through its Juvenile, Home Furnishings and Recreational/Leisure segments.

Hornung will continue to bring vision and strategic direction to Pacific Cycle and play an active role in customer relations until the end of 2006, when he will depart from Pacific Cycle to spend time on his other business ventures.

“I will certainly miss all the friends and acquaintances I have made in the industry over the years,” said Hornung. “The bicycle industry is very unique; I have certainly learned a lot from everyone I have had dealings with. Now it’s time for me to apply these lessons elsewhere.”

In addition to consulting for his former private equity partner, Wind Point Partners, Hornung also sits on three corporate boards; is actively involved in a non-profit, non-denominational medical mission, providing healthcare to third-world countries; and supports the University of Wisconsin Business School. Hornung plans to maintain a home in Madison, Wisconsin.

Pacific Cycle will continue to build its successful global business and strengthen its brands across the world.

Pacific Cycle is the leading supplier of quality bicycles in North America and a division of Dorel Industries Inc. The company designs, markets and imports a full range of bicycles and recreation products under the brand names of Schwinn, GT, Mongoose, Pacific, InSTEP, Pacific Outdoors, Roadmaster and Dyno. Pacific Cycle is headquartered in Madison, Wisconsin with offices in Olney, Illinois and Lake Forest, California. The company has distribution centers in Olney, Illinois, and Vacaville, California.

About Dorel Industries Inc.
Dorel Industries (TSX: DII.A, DII.B; NASDAQ: DIIB) is a global consumer products company engaged in the designing, manufacturing and marketing of a diverse portfolio of powerful consumer brands, sold through its Juvenile, Home Furnishings, and Recreational/Leisure segments. Headquartered in Montreal, Dorel employs approximately 4,500 people in fourteen countries. Dorel also has eight offices in China, headquartered in Shanghai, which oversee the sourcing, engineering and logistics of the Company’s Asian supplier chain. 2005 sales were US$1.8 billion.

US operations include Dorel Juvenile Group USA, which markets the Cosco and Safety 1st brands as well Eddie Bauer and Disney Baby licensed products; Ameriwood Industries, which markets ready-to-assemble furniture products under the Ameriwood, Carina, SystemBuild, Altra Furniture and Ridgewood/Charleswood brands as well as the California Closets license; Cosco Home & Office, which markets home/office products under the Cosco brand and Samsonite license as well as home healthcare products under the Cosco Ability Essentials and Adepta brands; and Pacific Cycle, which markets the Schwinn, Mongoose, GT, InSTEP, Playsafe and Roadmaster brands. In Canada, Dorel operates Dorel Distribution Canada, Ridgewood Industries and Dorel Home Products. Dorel Europe markets juvenile products throughout Europe, under the Bébé Confort, Maxi-Cosi, Quinny, Safety 1st, Babidéal, Mon Bébé and Baby Relax brands. Dorel Asia sources and imports home furnishings products.