Cossette receives unsolicited and non-binding proposal and announces resignation of Mr. Georges E. Morin

Cossette Inc. ("Cossette" or the "Company") announced today that it received an unsolicited and non-binding proposal from Cosmos Capital Inc. to acquire all outstanding subordinate voting shares of the Company at a price of $4.95 per share. This proposal includes the subordinate voting shares resulting from the conversion of all multiple voting shares other than those held by members of the Cosmos Capital Inc. and their affiliates. Cosmos Capital Inc. is a company controlled by Mr. Francois Duffar, a former director and officer of Cossette. Mr. Georges E. Morin, another former director and officer of Cossette, is also part of the group of investors of Cosmos Capital Inc. As of today, the multiple voting shares of Cossette are held by Messrs. Claude Lessard, Pierre Delagrave, Francois Duffar and Georges E. Morin.

A meeting of Cossette's board of directors was convened today in order to consider this proposal. Shareholders will be promptly informed by press release of any decision the board of directors may make on this subject.

Cossette also announced today that, on July 18, 2009, it received Mr. Georges E. Morin's resignation as director, employee and officer of the Company, which resignation is effective immediately.

Since Mr. Morin will cease being a full-time employee with the business, and in accordance with the Trust Agreement entered into between the holders of multiple voting shares, CIBC Mellon Trust Company and Cossette, the 871,659 multiple voting shares beneficially owned by Mr. Morin will be converted into subordinate voting shares, on a one for one basis, on October 16, 2009. The Trust Agreement and the Shareholders' and Voting Trust Agreement between the holders of multiple voting shares will terminate with respect to Mr. Morin on October 16, 2009, since he will cease to own multiple voting shares of Cossette.

The Trust Agreement provides for the automatic conversion of all outstanding multiple voting shares following the conversion of Mr. Morin's multiple voting shares, since the number of multiple voting shares held by the Principal Shareholders (namely Messrs. Claude Lessard and Pierre Delagrave) will not represent more than 30% of the aggregate number of multiple voting shares that were collectively held by the Principal Shareholders at the closing of the initial public offering (namely 12,982,000 multiple voting shares), unless that situation is remedied within 90 days following October 16, 2009.

Cossette Inc. offers a full range of leading-edge communication services to clients of all sizes, including some of the most prestigious brands in the world. A customer-driven organization built around highly specialized business units, Cossette also offers Convergent Communications(TM), a unique working method that brings added value to the client by integrating various services offered by the Group, including strategic planning and research, advertising, media buying and channel planning, sales promotion, direct response, database and direct marketing, customer relationship management, interactive marketing and technology solutions, public relations, organizational communication and change management, sponsorship and alliance marketing, branding and design, ethnic marketing, business-to-business communications (B2B practices) and print and video production. Cossette has approximately 1,485 employees and offices in Quebec City, Montreal, Toronto, Vancouver, Halifax, New York, Irvine, Los Angeles, London and Shanghai.

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SOURCE: COSSETTE INC.

Financial Analysts only: Martin Faucher, Vice-President and Chief Financial Officer, (418) 521-3784; Investors: Francis Trudeau, Director, Acquisitions and Investor Relations, (514) 282-4633; Medias: Mathieu Claise, Optimum Public Relations, (418) 521-3770; Source: Cossette Inc./www.cossette.com