Sears Canada Enters Into Automatic Share Repurchase Plan

TORONTO, Jan. 12 /CNW/ - Sears Canada Inc. (TSX: SCC) (the "Company" or "Sears Canada") today announced that it has entered into a pre-defined plan with a designated broker to allow for the repurchase of its common shares under its previously announced normal course issuer bid at times when Sears Canada ordinarily would not be active in the market due to its own internal trading blackout periods, insider trading rules, or otherwise.

Sears Canada is a multi-channel retailer with a network of 196 corporate stores, 260 hometown dealer stores, 33 home improvement showrooms, over 1,800 catalogue merchandise pick-up locations, 108 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.


SOURCE Sears Canada Inc.

For further information:

Contact for Media:      Vincent Power
Sears Canada, Corporate Communications
416-941-4422
vpower@sears.ca

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Sears Canada Inc.

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