Savaria Corporation Issuer Bid

LAVAL, QUEBEC, Jun 30 (MARKET WIRE) --
Savaria Corporation ("Savaria" or the "Corporation") (TSX: SIS), the
second largest company in the accessibility industry in North America,
today announced that it has commenced with the issuer bid for up to
4,000,000 common shares (14.8% of the issued and outstanding common
shares) at a price of C$0.90 per share with a 35 day deposit period
expiring on August 4, 2009 ("Issuer Bid'). Savaria currently has
27,061,014 common shares issued and outstanding.

Savaria previously announced its intention to proceed with the Issuer Bid
in a press release dated May 28, 2009.

As previously announced, Savaria is completing the Issuer Bid to provide
a liquidity opportunity for shareholders and because the board of
directors and management believe that the common shares have been trading
in price ranges which do not fully reflect the value of Savaria business
and future prospects, and in volume that do not provide reasonable
liquidity for shareholders. Mr. Marcel Bourassa, President and Chief
Executive Officer, and Mr. Jean-Marie Bourassa, Chief Financial Officer,
will not tender any shares into the Issuer Bid, either directly or
indirectly.

Burkman Capital Corporation ("BCC") was retained by the Corporation to
prepare an independent valuation ("Valuation") pursuant to the Issuer
bid. The Valuation was prepared by BCC based on its professional judgment
and in compliance with Multilateral Instrument 61-101. The Valuation is
based upon techniques and assumptions that BCC considers appropriate in
the circumstances for the purposes of arriving at an opinion as to the
range of fair market value of the common shares given the nature and
status of Savaria's overall business operations.

Subject to the assumptions, limitations, restrictions and the scope of
BCC's work as set out in the Valuation, BCC concluded that in its
opinion, the fair market value of 100% of the issued and outstanding
common shares as at June 25, 2009 is in the range of $21,200,000 to
$24,500,000 ($0.78 to $0.91 per common share).

A summary of the Valuation can be found in the Issuer Bid circular sent
to shareholders. A copy of the Valuation may be obtained on request from
the VP Finance, Savaria Corporation, 2724 Etienne-Lenoir Street, Laval,
Quebec, H7R 0A3, Telephone: (800) 931-5655. The Valuation has also been
filed on SEDAR.

Savaria received approval from the National Bank of Canada for a loan up
to the maximum principal amount of $4,000,000 ("Loan") which can be used
to finance the acquisition of the common shares by Savaria pursuant to
the Issuer Bid. The interest on the Loan shall be calculated at prime +
1% and is subject to, among other customary provisions, Savaria
maintaining in its bank accounts an amount equal to 50% of the amount of
the Loan outstanding.

Savaria Corporation (www.savariaconcord.com) is Canada's leader and the
second largest accessibility company in North America. The Corporation
designs, manufactures and distributes products meeting the needs of
people with mobility challenges, primarily stairlifts, vertical and
inclined platform lifts, as well as elevators for residential and
commercial use. Through its subsidiary Van-Action (2005) Inc., Savaria
also converts and adapts automotive vehicles for the disabled. Its sales
rely on a network of some 600 retailers in North America. Savaria records
approximately 60% of its sales outside Canada and employs some 400
people.

Contacts:
Savaria Corporation
Marcel Bourassa
Chairman of the Board, President and Chief Executive Officer
1-800-931-5655

Savaria Corporation
Helene Bernier, CA
Vice-President, Finance
1-800-931-5655
www.savariaconcord.com

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