Katz responds to EIG Board statement

    EDMONTON, Jan. 2 /CNW/ - Rexall Founder and Chairman Daryl Katz responded
to a press release issued early today by the Board of Directors of the
Edmonton Investor Group and to comments made by Board Chair Bill Butler at a
press conference, also held earlier today.
    In its press release, the EIG Board posed several questions to Mr. Katz
about his offer to acquire the shares of the Edmonton Investors Group Holdings
Ltd. The questions were taken from a much longer list of detailed and
technical questions conveyed by the EIG Board's legal counsel in a 6-page
letter delivered to Rexall Sports Corp. late in the afternoon on December 31,
2007.
    "The Board's conduct in recent days is confusing and I fail to see how it
serves the best interests of EIG shareholders," said Mr. Katz. "I have offered
repeatedly to meet with the EIG Board of Directors, EIG shareholders - either
individually or as a group - and with the professional advisors to any of the
above to discuss my interest in acquiring the team and answer their questions.
Neither the Board nor its advisors have accepted my offers to meet. Indeed the
first communication we have received from the Board came in the letter sent by
their lawyer on New Year's Eve. That letter was followed by today's press
conference in which Mr. Butler, without having the benefit of my response, is
reported to have said the Board is recommending shareholders vote against my
offer."
    "I intend to respond to whatever valid questions the Board has about my
offer for the team, but I think they owe an equal duty to come clean about any
involvement members of the Board may have in fashioning an alternative bid,
how much debt they plan to assume to retain ownership, and what commitments
they are prepared to make to help secure a new arena for the Oilers and a
training facility at the University of Alberta, which remains very much a part
of my plans if my offer is accepted."
    Mr. Katz noted that his offer was made to all EIG shareholders. The Board
may offer a recommendation to shareholders if it chooses to do so but does not
have the power to "reject" the offer on behalf of any shareholder.

    Daryl Katz is the founder and Chairman of The Katz Group. Founded in 1990
and headquartered in Edmonton, The Katz Group is one of North America's
leading drug store operators with over 1,800 stores in Canada and the United
states. Through its Rexall brand, The Katz Group is the largest corporate
sponsor of the Edmonton Oilers. Mr. Katz was born in Edmonton and graduated
from the University of Alberta in 1985 with a BA and an LLB.

For further information: Media contact: Josh Pekarsky, (604) 694-6030