NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR:  DANIER LEATHER INC.

TSX SYMBOL:  DL

AUGUST 4, 2004 - 16:25 ET

Danier Leather Inc. Board Declares Quarterly Dividend Of
6 Cents Per Share

TORONTO, ONTARIO--(CCNMatthews - Aug. 4, 2004) - Danier Leather 
Inc. (TSX: DL) announced today that its Board of Directors has 
declared an initial quarterly cash dividend of 6 cents per share 
on the outstanding subordinate voting shares and multiple voting 
shares of the Corporation. The dividend is payable September 1, 
2004 to shareholders of record at the close of business on August 
18, 2004.  

"The decision to institute a cash dividend reflects the board's 
confidence in Danier's long-term growth opportunities and 
financial strength," said Edwin Hawken, Chairman of the Board. 
"Even under challenging conditions, Danier continues to be a 
strong and stable generator of superior cash flow while meeting 
its ongoing capital investment requirements and achieving its 
long-term expansion goals."  

About Danier  

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 98 shopping mall, street-front, and power 
centre stores in North America, or through its corporate sales 
division and online through its website, www.danier.com. 

Note: This press release may contain forward-looking statements 
that involve risks, estimates, and uncertainties. Therefore, 
actual results may differ materially. Examples of such risks and 
uncertainties include those associated with product sales, demand 
for Danier's products, availability of raw materials, foreign 
sourcing and manufacturing, estimates of damages, costs and 
interest associated with the class action lawsuit, continued 
growth of the leather apparel industry, and competition and other 
associated risks with Danier's business. For an expanded 
discussion of risks and uncertainties, please see the documents 
filed by Danier Leather Inc. with the Ontario Securities 
Commission and the Toronto Stock Exchange. Danier disclaims any 
responsibility to update or revise such forward-looking 
statements whether as a result of new information, future events 
or otherwise. 

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

or

Danier Leather Inc.
Bryan Tatoff
Senior Vice-President and Chief Financial Officer
(416) 762-8175 ext. 328
(416) 762-6072 (FAX)
bryan@danier.com