NEWS RELEASE TRANSMITTED BY CCN NEWSWIRE

FOR:  DANIER LEATHER INC.

TSE SYMBOL:  DL

FEBRUARY 4, 2002 - 10:18 EST

Danier Leather Inc. Renews Share Repurchase Plan

TORONTO, ONTARIO--Danier Leather Inc. (TSE: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 5,616,125 subordinate voting shares 
issued and outstanding.  The notice provides that the Corporation 
may, during the 12 month period commencing February 6, 2002 and 
ending February 5, 2003, purchase on The Toronto Stock Exchange up
to 280,806 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 
January 26, 2001 to February 5, 2002, 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 and will enhance 
shareholders' value.  Subordinate voting shares that are purchased
pursuant to the normal course issuer bid will be cancelled by the 
Corporation, thereby increasing the proportionate interests of 
remaining shareholders. 

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

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