NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR:  DANIER LEATHER INC.

TSX SYMBOL:  DL

FEBRUARY 4, 2003 - 08:30 EST

Danier Leather Inc. Renews Share Repurchase Plan

TORONTO, CANADA--Danier Leather Inc. (TSX:DL) announced today 
that the Toronto Stock Exchange has accepted a notice filed by 
the Corporation of its intention to make a normal course issuer 
bid. 

The Corporation currently has 5,687,025 subordinate voting shares 
issued and outstanding.  The notice provides that the Corporation 
may, during the 12-month period commencing February 6, 2003 and 
ending February 5, 2004, purchase on the Toronto Stock Exchange 
up to 284,351 subordinate voting shares, being approximately 5% 
of the issued and outstanding subordinate voting shares.  The 
price which the Corporation will pay for any such shares will be 
the market price at the time of acquisition.  The actual number 
of subordinate voting shares which may be purchased and the 
timing of any such purchases will be determined by the 
Corporation.  From February 6, 2002 to February 3, 2003, the 
Corporation did not purchase any subordinate voting shares. 

The Corporation believes that the purchase of its subordinate 
voting shares at prevailing market prices may, from time-to-time, 
be a worthwhile investment for the Corporation.  Subordinate 
voting shares that are purchased pursuant to the normal course 
issuer bid will be cancelled by the Corporation, thereby 
enhancing the remaining shareholders' value by increasing their 
proportionate interests. 

The Corporation's subordinate voting shares are listed on the 
Toronto Stock Exchange. 

FOR FURTHER INFORMATION PLEASE CONTACT:
Danier Leather Inc.
Bryan Tatoff
Senior Vice-President and Chief Financial Officer
(416) 762-8175 ext. 328
(416) 762-7408 (FAX)
bryan@danier.com