NEWS RELEASE TRANSMITTED BY CCN - A NEWSWIRE SERVICE OF ITG

FOR:  DANIER LEATHER INC.

TSE SYMBOL:  DL

APRIL 19, 2000

Danier Leather Inc. Announces Fiscal 2000 Third Quarter
Results--Net earnings increased 99%--Total revenue up
32%--

TORONTO, ONTARIO-- 


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HIGHLIGHTS ($000, except percentages and earnings per share):

                          For the 13           For the 39   Trailing 52
                         Weeks Ended %        Weeks Ended  % Weeks Ended
                     Mar 25, Mar 27, chg  Mar 25,  Mar 27, chg  Mar 25,
                     ---------------------------------------------------
                        2000    1999         2000     1999         2000
                     ---------------------------------------------------
Sales                $42,991 $32,541 32% $118,533  $90,877 30% $136,633
Net Earnings          $3,503  $1,760 99%  $10,765   $6,503 66%  $10,376
EPS - Basic            $0.48   $0.24        $1.48    $0.90        $1.43
EPS - Fully Diluted    $0.46   $0.23        $1.40    $0.85        $1.36
                     ---------------------------------------------------

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Danier Leather Inc.  (TSE: DL) today announced results for the 
thirteen-week and thirty-nine week periods ended March 25, 2000. 

For the third quarter ended March 25, 2000, net earnings increased
99% to $3.5 million, or $0.48 per basic share ($0.46 per share 
fully diluted), compared to $1.8 million, or $0.24 per basic share
($0.23 per share fully diluted), for the same thirteen-week period
last year. 

Earnings before interest, taxes, depreciation and amortization 
(EBITDA) increased 84% to $6.9 million, or $0.96 per basic share, 
compared to $3.8 million, or $0.52 per basic share, for the same 
period last year.  On a 52 week trailing basis, Danier's 16.0% 
ratio of EBITDA to sales ranks number one for Canadian publicly 
traded specialty apparel retailers.  Net operating cash flow for 
the thirteen-week period was $4.4 million compared to $2.4 million
in the same period last year.  

Revenue in the third quarter ended March 25, 2000, increased 32% 
to $43.0 million, compared to $32.5 million, for the same 
thirteen-week period last year. Comparable stores sales for the 
thirteen-week period increased 16.0%. 

The gross margin rate for the third quarter of fiscal 2000 was 
48.8% compared to 45.4% for the same quarter in fiscal 1999.  As a
percentage of sales, selling, general and administrative costs 
decreased to 34.7% in the third quarter of fiscal 2000 from 35.7%,
for the same period last year.  

Jeffrey Wortsman, President and Chief Executive Officer commented,
"Danier's record results this quarter demonstrate that our 
merchandising and marketing strategies are highly effective and 
consumer response to our product offering is strong.  This 
quarter, we grew sales, increased our gross margin and leveraged 
expenses.  Additionally, results from www.danier.com continue to 
be strong with 60% of sales from outside of Canada." 

For the thirty-nine weeks ended March 25, 2000, net earnings 
increased 66% to $10.8 million, or $1.48 per basic share ($1.40 
per share fully diluted), compared to $6.5 million, or $0.90 per 
basic share ($0.85 per share fully diluted), for the same period 
in fiscal 1999.  Earnings before interest, taxes, and depreciation
and amortization, (EBITDA) increased 66% to $21.9 million, or 
$3.02 per basic share, compared to $13.2 million, or $1.82 per 
basic share, for the same period last year.  Net operating cash 
flow for the period was $13.5 million compared to $8.3 million for
the same thirty-nine week period last year.   

Revenue for the thirty-nine weeks ended March 25, 2000, increased 
30% to $118.5 million compared to $90.9 million for the same 
period last year.  Comparable store sales for the thirty-nine 
weeks ended March 25, 2000 increased 14.2%. 

The gross margin rate for the thirty-nine weeks ended March 25, 
2000 increased to 51.2% from 48.7% in the same period last year.  
Selling, general and administrative expenses decreased to 35.1% of
sales for the thirty-nine weeks ended March 25, 2000 from 36.1% of
sales in the same period last year.  

The board of directors is committed to maximizing shareholder 
value.  During the third quarter a Normal Course Issuer Bid was 
approved and 63,100 subordinate voting shares (or 1% of the 
subordinate voting shares outstanding) were repurchased at an 
average price of $6.85.  The board believes that the corporation's
subordinate voting shares represent an attractive investment and 
will continue to take action to maximize shareholder value.  

Third Quarter Strategic Highlights 

During the third quarter of fiscal 2000, the Company made 
considerable progress in the implementation of its business 
strategy including: 

* www.danier.com, which was launched in December 1999, continues 
to deliver strong results.  The majority of the website shoppers 
continue to be new to Danier. 

* Danier delivered a 3.4% increase in gross margin due to 
strategic buying and pricing, reduced markdowns, and excellent 
consumer response to the Company's product offering 

* The spring product offering was launched earlier than in fiscal 
1999 resulting in increased sales and in-store traffic.   

* The new distribution center continues to be highly efficient 
resulting in more frequent shipments to the stores. 

* The first U.S.A. store location generated increased sales and 
strong consumer response. 

* Danier's internal controls and loss prevention programs 
continued to produce a shrink rate of less than 1% (well below 
industry standards) 

* Accessory sales increased 64% in the third quarter and now 
represent 8.2% of total year to date sales compared to 5.8% last 
year. 

Mr. Wortsman concluded, "We remain firmly committed to both 
investing in the Danier brand equity and our e-commerce 
initiatives. Our growth initiatives going forward include; 
expanding our existing product lines, introducing new product 
lines and increasing our market share and brand recognition 
worldwide and expanding our e-commerce marketing programs in the 
United States.  Our continued balance sheet strength provides us 
with the flexibility and confidence necessary to fund our 
continuing expansion plans and take further advantage of the 
buying opportunities for leather and finished garments." 

Danier Leather Inc. is a leading integrated designer, 
manufacturer, and retailer of high-quality leather and suede 
clothing and accessories.  The Company's merchandise is marketed 
exclusively under the well-known Danier brand name and is 
available only at its 75 shopping mall, street front, and power 
centre stores or online through its website, www.danier.com. 

Certain statements in this press release contain forward-looking 
statements that deal with potential future circumstances and 
developments. Forward-looking statements involve risks and 
uncertainties, including, but not limited to, the weather and 
performance of the economies in the markets in which the company 
operates, continued acceptance of the company's products, 
competitive factors, the company's ability to identify and 
interpret fashion trends, factors affecting its sourcing of skins 
from operations in Europe, New Zealand and Asia, and other such 
risks as we may identify in this release or in other published 
documents.  Accordingly, there is no certainty that the company's 
plans will be achieved. 


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DANIER LEATHER INC.
CONSOLIDATED STATEMENTS OF EARNINGS AND RETAINED EARNINGS
(thousands of dollars, except earnings per share and number of shares
outstanding)

                         For the 13              For the 39  Trailing 52
                        Weeks Ended             Weeks Ended  Weeks Ended
                -------------------     -------------------    ---------
                   March      March   %    March      March  %     March
                25, 2000   27, 1999 chg 25, 2000   27, 1999 chg 25, 2000
                -------------------     -------------------    ---------
             (unaudited) (unaudited) (unaudited) (unaudited) (unaudited)
Revenue          $42,991    $32,541  32%$118,533    $90,877  30%$136,633
Cost of sales     21,996     17,772       57,796     46,659       67,450
                -------------------     -------------------    ---------
Gross profit      20,995     14,769  42%  60,737     44,218  37%  69,183
Selling, general 
 and administrative
 expenses         14,906     11,618  28%  41,596     32,849  27%  50,487
                -------------------     -------------------    ---------
Earnings before 
 interest and 
 income taxes      6,089      3,151  93%  19,141     11,369  68%  18,696
Interest expense 
 (income)          (110)       (23)           92       (12)           56
                -------------------     -------------------    ---------
Earnings before 
 income taxes      6,199      3,174  95%  19,049     11,381  67%  18,640
Provision for 
 income tax        2,696      1,414  91%   8,284      4,878  70%   8,264
                -------------------     -------------------    ---------
Net earnings for 
 the period       $3,503     $1,760  99% $10,765     $6,503  66% $10,376
                -------------------     -------------------    ---------
                -------------------     -------------------    ---------
Retained earnings,
 beginning of 
 period           14,917      6,284        7,655      1,541        8,044
Share purchases    (213)          -        (213)          -        (213)
Retained earnings,
 end of period   $18,207     $8,044      $18,207     $8,044      $18,207
                -------------------     -------------------    ---------
                -------------------     -------------------    ---------

Earnings per Share:
 Basic             $0.48      $0.24 100%   $1.48      $0.90  66%   $1.43
 Fully Diluted     $0.46      $0.23 100%   $1.40      $0.85  66%   $1.36

Number of Shares Outstanding:
 Basic         7,224,948  7,264,329    7,251,202  7,264,329    7,254,484
 Fully Diluted 7,733,536  7,777,104    7,768,775  7,783,963    7,769,539

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DANIER LEATHER INC.    
CONSOLIDATED BALANCE SHEETS    
(thousands of dollars)    


                                  March 25, 2000         March 27, 1999
                                  --------------         --------------
                                      (unaudited)            (unaudited)
ASSETS    
Current Assets     
 Cash and short-term deposits            $10,135                 $5,282
 Accounts receivable                       1,071                  1,260
 Inventories                              28,802                 24,419
 Prepaid expenses                            159                    285
                                  --------------         --------------
                                          40,167                 31,246

Other Assets    
 Capital assets                           20,077                 12,245
 Goodwill                                    359                    372
 Deferred income taxes                     1,578                  2,247
                                  --------------         --------------
                                         $62,181                $46,110
                                  --------------         --------------
                                  --------------         --------------

LIABILITIES    
Current Liabilities    
 Accounts payable and accrued 
  liabilities                            $13,211                 $9,131
 Income taxes payable                      4,995                  2,685
 Current portion of long-term debt           265                    242
                                  --------------         --------------
                                  --------------         --------------
                                          18,471                 12,058
                                  --------------         --------------
Long-term debt                               518                    804
                                  --------------         --------------
                                          18,989                 12,862
                                  --------------         --------------

SHAREHOLDERS' EQUITY    
 Share capital                            24,985                 25,204
 Retained earnings                        18,207                  8,044
                                  --------------         --------------
                                          43,192                 33,248
                                  --------------         --------------
                                         $62,181                $46,110
                                  --------------         --------------

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DANIER LEATHER INC.      
CONSOLIDATED STATEMENTS OF CASH FLOW      
(thousands of dollars)      


                                    For the 13          For the 39 
                                    Weeks Ended         Weeks Ended
                                ---------------------------------------
                                March 25, March 27, March 25, March 27,
                                      2000     1999       2000     1999
                                ---------------------------------------
                                      (unaudited)         (unaudited)
Cash flows from operating activities:      
Net earnings for the period        $3,503   $1,760    $10,765   $6,503
Adjustments for: 
 Amortization                         848      625      2,745    1,844
                                ---------------------------------------
                                    4,351    2,385     13,510    8,347
Change in operating assets and liabilities:      
 Accounts receivable                   90    2,378       (702)    (669)
 Inventories                        1,766    3,730     (6,143)  (4,635)
 Prepaid expenses                      77     (101)        83     (100)
 Accounts payable and 
  accrued liabilities              (2,276)  (2,723)     6,875    3,264
 Income taxes payable              1,520       787      3,522    1,139
                                ---------------------------------------
Net cash provided by 
 operating activities              5,528     6,456     17,145    7,346
                                ---------------------------------------

Cash flows from investing activities:
 Acquisition of capital assets      (800)   (4,396)    (8,002)  (8,649)
                                 ---------------------------------------
Net cash used for 
 investing activities               (800)   (4,396)    (8,002)  (8,649)
                                 ---------------------------------------

Cash flows from financing activities:
 Subordinate voting shares 
  purchased                         (432)        -       (432)       -
 Obligations under capital leases    (83)      (57)      (204)    (168)
                                 ---------------------------------------
Net cash used for 
 financing activities               (515)      (57)      (636)    (168)
                                 ---------------------------------------

Net increase (decrease) 
 in cash                           4,213     2,003      8,507   (1,471)
Cash and short-term deposits,
 beginning of period               5,922     3,279      1,628    6,753
                                ---------------------------------------
Cash and short-term deposits,
 end of period                   $10,135    $5,282    $10,135   $5,282
                                ---------------------------------------
                                ---------------------------------------

FOR FURTHER INFORMATION PLEASE CONTACT:
Investor Relations Contact:
Jeffrey Wortsman
President and Chief Executive Officer
(416) 762-8175 ext. 302
(416) 762-7408 (FAX)
Email:leather@danier.com

or

Bryan Tatoff
Vice-President and Chief Financial Officer
(416) 762-8175 ext. 328
(416) 762-7408 (FAX)
Email:bryan@danier.com

or

Karen Goulet/Kevin O'Conn
or

Capital Markets Communications
(416) 322-3070
(416) 322-3055 (FAX)
Email:capitalmarkets@on.aibn.com