HUSKY INJECTION MOLDING SYSTEMS LTD. ISSUES FISCAL 2004 FOURTH QUARTER AND FULL YEAR RESULTS

Toronto, Ontario, September 23, 2004 – Husky Injection Molding Systems Ltd. (TSX: HKY) today announced its results for the fourth quarter and year ended July 31, 2004. All figures in this press release are in US dollars unless otherwise stated. Management’s Discussion and Analysis. The following is a discussion of the consolidated financial condition and results of operations of Husky Injection Molding Systems Ltd. (the “Company”) for the quarter and the year ended July 31, 2004. It should be read in conjunction with the Company’s Annual Report 2003 – Financial Supplement for the year ended July 31, 2003, together with the unaudited consolidated financial statements for the three month period ended July 31, 2004 and the audited consolidated financial statements for the twelve month period ended July 31, 2004.

The Company assesses its performance by reviewing the geographic mix of sales from its territories, and gross profit and profitability on a consolidated basis.

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About Husky

Husky Injection Molding Systems Ltd. (www.husky.ca) is a global supplier of injection molding equipment and services to the plastics industry. With one of the broadest product lines in the industry, customers use Husky equipment to manufacture a wide range of products in the packaging, technical and automotive industries. The company has more than 40 service and sales offices, supporting customers in more than 100 countrie. Husky’s manufacturing facilities are located in Canada, the United States, Luxembourg and China. The company’s common shares (HKY) are listed on the Toronto Stock Exchange and are included in the S&P/TSX Composite Index.