Beaumont Select Corporations Inc. Announces 2008-9 Fiscal Year Financial Results

Beaumont Select Corporations Inc. ("Beaumont") (TSX VENTURE:BMN.A) reported
today its financial results for the fiscal year ended June 30, 2009.


The past year has seen substantial volatility in the financial and capital
markets worldwide, with corresponding substantial declines in economic activity
including in Canada. These external events had a major negative impact on the
Corporation's Investment Division. The Investment Division has enjoyed some
recovery in its portfolio since the end of the 2008-9 fiscal year though the
volatility and unpredictability in the capital markets remains very high.


In the Food Division, world economic and financial events have reintroduced
strong pressure from its customers to reduce prices, especially in the latter
part of the recently completed fiscal year. As part of its ongoing efforts to
introduce new products to the marketplace, the Food Division was successful in
persuading some key customers to list new products which may present additional
sales for the division in the coming year.


FINANCIAL HIGHLIGHTS

Highlights for the Corporation's financial results for the fiscal year ended
June 30, 2009 included the following:


-  The Investment Division activities generated a loss of $8.283 million
   during the 2008-9 fiscal year ($1.014 million gain during the fourth
   quarter). This contrasts with a loss of $1.04 million for 2007-8 ($5.87
   million gain for the fourth quarter of that year). Dividends and income
   trust distributions continued to exceed margin interest costs, but
   realized losses resulted in a negative result overall. Dividends and
   income trust distributions yielded $0.897 million, down from $2.0
   million during the previous fiscal year.

-  The book value of the Corporation's portfolio of equity securities
   decreased from $29.9 million to $9.28 million while the Corporation's
   equity in its portfolio of equity securities decreased by $8.304 million
   or 63% to $4.937 million from $13.242 million at the beginning of the
   fiscal year. The decrease was due to dramatic changes in the stock
   markets world wide, with the most dramatic swings in the second and
   third quarter. A significant portion of the decline in total portfolio
   value relates to actual sales of securities during the fiscal year. The
   corresponding margin loans took a sharp decrease as well, to $4.343
   million, with a margin ratio of 46.8%, from $16.695 million, with a
   margin ratio of 55.8%, at the start of the year.

-  The Corporation sold its second Calgary Building during the third
   quarter for $3.9 million, realizing $3.22 million excluding cleanup
   costs. The proceeds were used to retire debt from the Real Estate
   Division as well as corporate indebtedness. Combined with last year's
   other Calgary building sale long term debt (including current portion)
   to equity has declined to 11% at June 30, 2009 compared to 30% at the
   prior fiscal year end, even after the current year net loss. Interest
   expense and bank charges were also reduced to $265 thousand in fiscal
   2008-9 from $1.011 million in the prior fiscal year.

-  Operating margin (derived principally from the Food Division) increased
   to $1.702 million (8.4% of sales) from $1.203 million (6.4% of sales)
   helped by a 7.4% increase in sales. Margins also improved as the
   division made well timed purchases of key raw materials during the year
   that helped contain otherwise rising input costs.

-  Somerset Properties Ltd. experienced similar negative returns to the
   Corporation as it also has a majority of its liquid assets invested in
   the equity capital markets. Due to the size of these losses, the
   Corporation wrote down its investment in Somerset Properties by $600
   thousand during the third quarter. A portion of Somerset Properties'
   investment losses have since been recovered through normal investment
   activity, but no change in the carrying value of the Somerset Properties
   investment has been made by the Corporation.

-  Somerset Properties declared $273 thousand in dividends payable to the
   Corporation during the 2008-9 fiscal year (included in the total
   dividends and distributions reported above), of which $65 thousand
   remains receivable.

-  Assets and liabilities of discontinued operations declined materially
   due to increased valuation allowances of future tax assets and
   completion of the wind down of the Bakery Unit. The net amount of assets
   and liabilities of discontinued operations at the end of the 2008-9
   fiscal year were reduced to a net asset of $223 thousand compared to
   $3.553 million at the end of the prior fiscal year.

-  Net income from continuing operations before income taxes and
   non-controlling interest declined by $8.316 million from net income of
   $2.022 million to a net loss of $6.294 million in the 2008-9 fiscal
   year. Net income (including taxes, discontinued operations and
   non-controlling interest) declined by $1.677 million (38%) to a net loss
   of $6.041 million (negative $0.36 per share) compared to a net loss of
   $4.364 million (negative $0.26 per share) in the prior fiscal year.



                                 Fourth quarter ending   Fiscal year ending
                                ---------------------- ---------------------
                                 30-Jun-09  30-Jun-08  30-Jun-09  30-Jun-08
Net Sales                           4,425     4,388     $20,276      18,878
Operating Income (Loss)              (135)      410        (446)     (1,766)
Net Income (Loss)                     343     4,705      (6,041)     (4,364)
Net Income (Loss) per share - basic  0.02      0.28       (0.36)      (0.26)
Funds from (used in) operations       315       687         917        (115)
per share - basic                    0.02      0.01        0.06       (0.01)
EBITDA                             (1,425)    3,266      (7,330)     (2,991)
per share - basic                   (0.09)     0.19       (0.44)      (0.18)
EBITDA before one-time items
 and discontinued operations          659    10,962      (5,124)      5,086
per share - basic                    0.04      0.65       (0.31)       0.30
Total Assets                                             26,665      53,805
Total long-term financial liabilities                       841       5,257
Shareholder's equity                                     15,655      21,779
Shares outstanding, end of period                    16,672,097  16,820,597



Going Forward

The Chief Operating Officer of the Corporation has tendered his resignation,
effective November 3, 2009, to pursue other alternatives. The Corporation has
retained a senior executive with strong accounting and business experience as
chief accounting officer to assist the CEO with tasks previously handled by the
current Chief Operating Officer.


The Corporation's Food Division continues to face a very competitive environment
with limited ability in the short term to increase sales volume and
contributions. The Food Division is somewhat more optimistic than in prior years
that it will be able to generate new customer opportunities principally in
Canada though margins will be difficult to maintain.


The Canadian dollar exchange rate also continues to put pressure on margins and
adversely affecting US sales for the Food Division, however there has been some
relief in fuel and raw materials prices. The volatile economic and financial
conditions preclude the Corporation from providing any specific guidance on
anticipated operating income, funds flow from operations or other financial
indicators for 2009-10.


Those same market factors are even more prominent when considering future
prospects for the Investment Division. Focus on capital preservation will be the
key for the Investment Division in the near term, with an eye to growth
returning to the Investment markets in the medium term.


Additional Information

The Annual Report, Proxy and Information Circular are expected to be mailed to
shareholders on or about November 20, 2009. The Annual Meeting is scheduled for
December 15, 2009. The complete Annual Report, including the audited financial
statements and Management's Discussion and Analysis will be available, and the
audited financial statements for the 2008-9 fiscal year and related management's
discussion and analysis are already available, together with other information
on the Corporation at www.sedar.com.


Beaumont Select Corporations Inc. is a management and investment corporation,
which has investments in a portfolio of equity securities and the food
processing and real estate industries. Beaumont charges fees and interest on its
investments to its subsidiary companies.