Exhibit 12

             EMCO LIMITED ANNOUNCES SATISFACTION OF INVESTMENT
           CANADA ACT AND COMPETITION ACT (CANADA) CONDITIONS IN
             CONNECTION WITH THE OFFER BY 2022841 ONTARIO INC.

LONDON,  Ontario,  Canada  (April 4, 2003) - Emco  Limited  (Toronto:  EML;
Nasdaq: EMLTF) announced today that it has been advised that the conditions
relating to the Investment Canada Act and the Competition Act (Canada) have
been satisfied, in connection with the cash tender offer by 2022841 Ontario
Inc., an indirect wholly owned subsidiary of Blackfriars  Corp., for all of
the  outstanding  common  shares  of Emco at  Cdn.$16.60  per  share.  Emco
previously  announced  on March  19,  2003  that the  offer  was no  longer
conditional  on the  expiration or  termination of the waiting period under
the U.S. Hart-Scott-Rodino Antitrust Improvements Act.

The tender offer and related  withdrawal rights are currently  scheduled to
expire on Monday,  April 7, 2003, at 8:00 P.M.  (EST),  unless the offer is
extended.  The tender offer is also subject to the other  conditions as set
out in the tender offer materials.

Copies of the tender offer  materials can be obtained in Canada from Scotia
Capital  Inc.,  the  dealer  manager  for the tender  offer in  Canada,  at
416-945-4599 and in the U.S. from MacKenzie Partners, Inc., the information
agent for the tender offer, at  1-800-322-2885.  Copies of the tender offer
materials  have also been filed  with the  Canadian  securities  regulatory
authorities and with the U.S. Securities and Exchange Commission. Investors
and security  holders may obtain a copy of the tender offer  materials  and
related  documents filed with the CSA at  www.sedar.com  or with the SEC at
www.sec.gov.

Emco Limited is one of Canada's leading  distributors and  manufacturers of
building   products  for  the   residential,   commercial   and  industrial
construction markets.

For further information please contact:

Gordon E. Currie                        Daniel J. Boyd
Vice President, Treasurer & CFO         Director, Investor Relations & Tax
(519) 645-3905                          (519) 645-3911


This press release is for informational  purposes only. The solicitation of
offers to sell Emco Limited  common  shares is only being made  pursuant to
the offer to purchase  and related  tender  offer  materials  that  2022841
Ontario Inc.  and  Blackfriars  Corp.  have filed with the CSA, the SEC and
sent to Emco shareholders. This communication shall not constitute an offer
to purchase or a solicitation of an offer to sell Emco shares.