President's Choice(R) celebrates 10 years of feeding Canadians with an appetite for a better way to bank



    - 3 million PC financial customers continue to dine on no-fees, low
    rates, high interest, and free groceries -

    BRAMPTON, ON, March 17 /CNW/ - President's Choice financial services
(PC Financial) celebrates its 10th anniversary this year and continues to
offer Canadians a better way to shop for financial services. In 2007 alone, PC
Financial saved its customers $160 million in fees with Canada's only true no
fee daily bank account while, over the course of its ten year history, has
paid customers $811 million in interest with its high interest savings account
and awarded $447 million in free groceries and rewards for health, beauty,
home and living with its PC Points program.
    "In 1998 Loblaw Companies Limited (LCL) launched PC Financial because
Canadians deserved better banking. PC Financial continues to 'challenge the
status quo'; something the PC brand has been doing successfully for over
25 years," said Barry Columb, President, PC Financial and Executive
Vice-President, Loblaw Companies Limited. PC Financial follows the principles
of all President's Choice products, meeting strict quality, value, and
innovation criteria. "Ten years later, we continue to take up this challenge
on behalf of Canadians. This is a thank-you to our customers more than a
celebration of our successes."
    Beginning in March, PC Financial, through the retail store network of
banking pavilions, will be kicking off its 10th birthday celebration with
cake, cupcakes, and other giveaways. These activities are all in place to
thank the almost three million new and existing customers of PC Financial who
continue to enjoy its high value financial services offering while inviting
potential customers to reap the rewards of fresh financial thinking.
    "Measured against its peers, PC Financial is now the 11th largest
institution of 44 banks in the Canadian market and the 6th largest MasterCard
issuer, a huge accomplishment in such a short timeframe," Columb added. "This
is a testament to the trust and love Canadians have for the PC brand as an
advocate and champion on their behalf."

    
    History of Innovation

    -   From its launch 10 years ago, PC Financial has continued to grow its
        offer of a full suite of personal banking products, the PC MasterCard
        and insurance.
        -  1998: Launched the first no fee daily bank account in Canada. The
           no fee bank account continues to save Canadians hundreds of
           dollars in daily bank fees each and every year.
        -  1998: Launched PC points programs as a means to reward customers
           with free groceries and rewards.
        -  2001: Launched the PC MasterCard. Now over 1.5 million accounts.
        -  2003: Launched PC Home & Auto insurance.
        -  2005: Launched PC Pet & Travel insurance. Now over 100,000 total
           PC Insurance policies in force.
        -  2006: Launched an industry leading high interest savings account.
    

    PC Financial operates 200 pavilions in LCL stores, online at
www.pcfinancial.ca, thousands of ABM's across Canada, and national call
centres.

    About Loblaw Companies Limited

    Loblaw Companies Limited is Canada's largest food distributor and a
leading provider of general merchandise, drugstore and financial products and
services. Through its various operating banners, Loblaw is committed to
providing Canadians with a one-stop destination in meeting their food and
everyday household needs. This goal is pursued through a portfolio of store
formats across the country. It also offers one of Canada's strongest control
label programs, including the unique President's Choice(R) and no name(R)
brands. Loblaw is one of the largest private-sector employers in Canada,
employing over 139,000 full-time and part-time employees.





For further information:

For further information: OR TO ARRANGE AN INTERVIEW: Wes Brown, Loblaw
Companies, (905) 459-2500, x5488


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