Sears Canada Acquires Assets of Excell Duct Cleaning Inc.



    Sears Positioned for Continued Growth in Home Services Business

    TORONTO, Feb. 25 /CNW/ - Sears Canada Inc. (TSX: SCC) announced today
that it has purchased the assets of Excell Duct Cleaning Inc., a
privately-held Ontario-based company which manages a network of air duct
cleaning licensees for Sears in 24 regions from Vancouver to Montreal covering
all major cities in that corridor. Since 1991, Excell has been offering duct
cleaning services, HVAC service and repair, and sale of certain clean air
products under the "Sears Indoor Clean Air Services" name. In addition to
recruiting and training new licensees, Excell has provided procurement and
other support functions to this network.
    "We are pleased to welcome the Excell team into the Sears family," said
Ajit Khanna, Senior Vice-President, Home Services, Travel and Contact Centres.
"Sears Home Services are an important growth vehicle for the Company. Having
Excell under the Sears Home Services umbrella will position Sears to expand
the products and services offered through the licensee network, including
those relating to heating, ventilation and air-conditioning.
    "We want to help customers maintain a home that is energy efficient,
healthy and smart," continued Mr. Khanna. "Through an expanded assortment of
products and services, we can help customers save money by conserving energy,
help them stay healthy through water and air filtration, and help facilitate
the management of their household through home automation products. Our aim is
to become more important in the management of our customers' homes and today's
announcement is an important step in accomplishing this."
    An announcement was made in person by Sears management to the current
employees of Excell, who will remain and continue to work out of their
Burlington, Ontario office.

    This release contains information which is forward-looking and is subject
to important risks and uncertainties. Forward-looking information concerns the
Company's future financial performance, business strategy, plans, goals and
objectives. Factors which could cause actual results to differ materially from
current expectations include, but are not limited to: the ability of the
Company to successfully implement its cost reduction, productivity improvement
and strategic initiatives and whether such initiatives will yield the expected
benefits; the impact of the sale of the Company's Credit and Financial
Services operations and the results achieved pursuant to the Company's
long-term marketing and servicing alliance with JPMorgan Chase Bank, N.A.;
general economic conditions; competitive conditions in the businesses in which
the Company participates; changes in consumer spending; seasonal weather
patterns; customer preference toward product offerings; changes in the
Company's relationship with its suppliers; interest rate fluctuations and
other changes in funding costs; fluctuations in foreign currency exchange
rates; the possibility of negative investment returns in the Company's pension
plan; the outcome of pending legal proceedings; and changes in laws, rules and
regulations applicable to the Company. While the Company believes that its
forecasts and assumptions are reasonable, results or events predicted in this
forward-looking information may differ materially from actual results or
events.

    Sears Canada is a multi-channel retailer with a network of 196 corporate
stores, 182 dealer stores, 57 home improvement showrooms, over 1,800 catalogue
merchandise pick-up locations, 106 Sears Travel offices and a nationwide home
maintenance, repair, and installation network. The Company also publishes
Canada's most extensive general merchandise catalogue and offers shopping
online at www.sears.ca.





For further information:

For further information: Vincent Power, Sears Canada, Corporate
Communications, (416) 941-4422, vpower@sears.ca


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