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Indigo announces results of common share rights offering TORONTO May 1, 2002 - Indigo Books & Music Inc. (TSE: IDG) announced today that it has successfully completed an offering of 4,243,841 common shares of the company at $3.50 per share and that the shares issued pursuant to additional subscription privileges have now been allocated. The issue, which was completed by way of an offering of subscription rights to all holders of common shares of the company, was fully subscribed and resulted in gross proceeds of $14,853,443.50. The net proceeds from this rights offering will be used to provide the company with capital to further reduce overall levels of indebtedness. Proceeds will also be used to cover certain costs associated with the restructuring of stores previously offered for sale and with initiatives to improve merchandising and logistics information systems. As a result of this rights offering, Trilogy Retail Enterprises L.P., which is controlled by Gerald Schwartz, slightly increased its ownership interest to 66.4% of the company's common shares, up from 66.07%, and Mr. Schwartz and Heather Reisman otherwise control 1.5% of the company's common shares, up from 0.9%. About Indigo Indigo is a Canadian company and the largest book retailer in Canada, operating bookstores in all provinces under the names Indigo Books Music & more, Chapters, Coles, SmithBooks and World's Biggest Bookstore. Indigo operates http://chapters.indigo.ca, an online retailer of books, videos and DVDs. Indigo is a publicly traded company, listed on the TSE under the stock symbol IDG. To learn more about Indigo, please visit the About Our Company section of http://chapters.indigo.ca. For further information: Tracy Nesdoly, Vice President Communications, Indigo Books & Music Inc., Tel: (416) 263-5025, Fax: (416) 598-5060 Retail Corporate Profile Management SEDAR Filings News Releases Online Corporate Profile Management News Releases Info Desk iREWARDS Program About Our Company Affiliate Opportunities Careers Contact Us Corporate Sales Gift Certificates Privacy Policy Shipping Rates Store Locations Wish List chapters.indigo.ca: home Shopping Bag | Account Centre | Wish List | Help iREWARDS Program | Corporate Sales | Store Locations All Products Books DVD Video Gifts Books Advanced Search Search Tips Browse Books Art and Architecture Audiobooks Biography & Memoir Business and Finance Children's Books Computers View all Categories Browse DVD Action & Adventure Comedies Dramas Foreign Films Horror & Suspense Kids & Family View all Categories Browse Video Action & Adventure Comedies Dramas Foreign Films Horror & Suspense Kids & Family View all Categories . Chapters Indigo Toronto • Chapters Book Store Canada • Chapters Victoria • Indigo Canada • Indigobooks • www.Chapters.ca • Chapters Bookstore • Indigo And Chapters • Indigo Online Bookstore • Chapters Indogo • Indigo And Chapters • Chapters Victoria • www Chapters Indigo Com • Chapters Hours • Chaptersbooks • Chapters Indigo Books Canada • Chapters Indigo Ca Coupons • Indigo Bookstore • Chapters In Montreal • Coles, Canada • Chapters Indigo Book Store • Chapters Indigio • Chapters Canada • Chapters Books Vancouver • Chapters Online Store •
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