Humpty Dumpty

1. Humpty Dumpty (SNX - TSX) www.humptydumpty.com

2. Who Is Humpty Dumpty? • Started as Small Fry • Supply potato chips and popcorn to large sporting venues, as well as independent grocery outlets and corner stores • Emphasizing "Made in Canada" quality and developing several unique flavours helped establish a foothold in Central Canada • 1993 acquired assets of Old Barrel Potato Chips including its manufacturing facility in Urbanville, PEI • 1994 bought Humpty Dumpty Canada (2nd largest in Canada) • 2000, bought Humpty Dumpty Company in US • Today, headquartered in Kitchener, Ontario with a strong market presence, manufacturing and distributing a full line of salty snack products • Also a value-added supplier of private label products to retailers

3. How about we actually make some money (this time)! $$ BLING $$ $$ BLING $$

4. Why Buy SNX? Q3 2002 • Strong sales growth: increased 5.6% during quarter, driven by solid growth • Strong CF from operations for growth • Management believes that cash flow from operations and the existing credit facilities will provide the Company with sufficient financial resources to fund its working capital needs and planned capital expenditures for the foreseeable future

5. Why Buy SNX? Q4 2002 • Nov. 15 announced expects to deliver fourth consecutive year of profitable growth (FY02 ended Sept. 30/02) • Forecasting an increase in net earnings of approximately 25% • Given strong performance intends to review current dividend policy once FY02 results audited & approved by Board • "The success of our branded growth strategy is proven," said Gerald P. Schmalz, Chairman and CEO. "We've invested wisely in our business and are strongly positioned to deliver increasing value to our shareholders."

6. Main Reason to Buy! Nov. 2/02 • Fresh produce company Dominion Citrus Ltd. made $17M stock-swap bid for control of Humpty Dumpty • Want to swap one common share ($1.26 as of Nov. 27) and one series A preferred share ($2.25 issue price) for each SNX share  58% premium • Board said Dominion's offer does not reflect the "fair value" of the company • "This offer significantly undervalues Humpty Dumpty's effective operating model, strong track record and future prospects,"said Gerald Schmalz, chairman and CEO of SNX • "The board strongly recommends that Humpty Dumpty shareholders unequivocally reject Dominion Citrus's offer."

7. Main Reason to Buy! Nov. 5/02 • “Question not whether SNX will be acquired, but who will be the buyer” Cynthia Rose-Martel, analyst with Jennings Capital • SNX up 23 per cent after Dominion Citrus announced offer • Following Board rejection of offer  stock up 17 per cent (Nov. 4/02) Nov. 7/02 • Shareholders formally reject bid

9. My Thoughts & Reasoning • P/E = 10.556  Competition Avg. = 15.4 • The stock is currently trading @ $2.85 • On Nov. 1/02 trading @$2.65 • Since Shareholders rejected offer equivalent to approx. $3.50, I think that someone will come in with an offer for more Shareholders will likely keep trading and increasing the price up to at least $3.50, expecting someone to step in • Therefore, @ $2.85 SNX is a great buy • If it goes up to around $3.50, that is a $0.65 gain per share, or approx. 23% • Currently looks like going down below moving averages, however, as you can see, it is quite volatile, from the ups and downs

10. Thank you! No time for questions!!