FLUSHOTTAWA, ONTARIO (July 24, 2002) - Dynasty Components Inc. (TSX: DCI) (DCI), which has been operating under the protection of the court pursuant to orders made under the Companies' Creditors Arrangement Act (CCAA), announced today that it will not be making an application to extend the CCAA protection order, which expires on July 29, 2002. Deloitte & Touche Inc. (D&T), which has been acting as interim receiver of DCI, confirms that DCIs financial institution has withdrawn its support for DCI and that negotiations with potential purchasers of DCIs assets are at a standstill. The operations at DCI will likely be discontinued. D&T also confirms that there is no return expected for DCIs shareholders or its unsecured creditors. Nick Torchetti and William Train, the remaining members of the board of directors of DCI, have also resigned from the board. The common shares of DCI, which currently trade on the TSX, will likely be suspended from the TSX following the expiry of the CCAA protection order on July 29, 2002.