Consolidated Mercantile Incorporated (TSX - "CMC" - common) (NASDAQ - "CSLMF" - common) TORONTO, Nov. 14 /PRNewswire-FirstCall/ -- In March 2004, Consolidated Mercantile Incorporated ("CMI") completed the sale of approximately 48% of its holdings in Polyair Inter Pack Inc. ("Polyair") and retains 23% of the common shares of Polyair. As CMI and Polyair no longer have a parent-subsidiary relationship, the investment in Polyair is now accounted for using the Equity Method. Revenues for the nine month period ended September 30, 2005 decreased to approximately $27.7 million from $100.4 million in the comparable 2004 period. Sales now represent the consolidation of our furniture operations only. Net Loss for the period was $3.1 million compared to Net Earnings of $5.5 million in the comparable 2004 period. Net Earnings for 2004 included the gain on sale of the investment in Polyair. Sales and earnings for the period were impacted by a temporary decrease in production capacity resulting from the relocation of one of our Toronto furniture manufacturing plants to a new North Carolina facility. Loss per share for the quarter was $0.25 compared with $0.10 in the comparable 2004 period. Loss per share for the nine months ended September 30, 2005 was $0.62 compared with earnings of $1.09 in the comparable 2004 period. Polyair's fiscal year end is October 31, and accordingly, the unaudited Consolidated Statement of Operations for the comparative nine month period ended September 30, 2004 includes the results of Polyair for the four months ended February 2004. Consolidated Mercantile Incorporated is a management holding company which provides merchant banking and effects its investment strategy through investment in and management of its core strategic industries including packaging, swimming pool products, furniture and finance. "Safe Harbor" statement under the Private Securities Reform Act of 1995: This release contains forward-looking statements which reflect management's current views of future events and operation. These forward-looking statements are based on assumption and external factors, including assumptions relating to product pricing, competitive market conditions, financial data and other risks or uncertainties detailed from time to time in the Company's filings with the Securities and Exchange Commission. These forward-looking statements represent the Company's judgement as of the date of this release and any changes in the assumptions or external factors could produce significantly different results. DATASOURCE: Consolidated Mercantile Incorporated CONTACT: Stan Abramowitz, Secretary, (416) 920-0500

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