HONGBO RENEWS SUPPLY AGREEMENT WITH DUPONT

Trading Symbol: MCV

TORONTO, Dec. 10 /CNW/ - McVicar Industries Inc. ("McVicar") is pleased to announce that its Chinese subsidiary, Zhejiang Hongbo Chemical Co. Ltd. ("Hongbo") has renewed its supply agreement with DuPont of the USA for another three years. Hongbo has been a supplier for a product that DuPont ordered for the past three years. Product quality and delivery services to the customer have been very satisfactory during that period of time. In the new agreement, Hongbo is also asked for increased supply quantity due to increased market demand. This contract will automatically be extended for two consecutive two year terms if both sides agree.

"I am very pleased with the positive developments from Hongbo. The company was able to win an increased confidence from our strategic customer through its constant efforts in improvement in product quality and satisfactory customer service", commented Dr. Gang Chai, President & CEO of McVicar.

This press release contains forward-looking statements which reflect the Corporation's current expectations regarding future events. The forward-looking statements involve risks and uncertainties. Actual results could differ materially from those projected herein. Although we believe that our expectations are based on reasonable assumptions, we can give no assurance that our expectations will materialize. The TSX Venture Exchange Inc. has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

For further information:

please contact investor relations eXavier Peterson or Dr. Gang Chai, CEO at: 55 University Avenue, Suite 605, Toronto, ON M5J 2H7 Tel: [phone] Fax [phone] www.mcvicar.ca