Empire Company closes bought deal offering


    STELLARTON, NS, April 24 /CNW/ - Empire Company Limited ("Empire" or the
"Company") (TSX:EMP.A) today announced that it has closed its previously
announced bought deal public offering (the "Offering") of Non-Voting Class A
shares (the "Shares") at a price of $49.75 per Share. The underwriters, led by
Scotia Capital Inc., elected to exercise their over-allotment option in full
resulting in a total of 2,713,000 Shares being issued today by Empire for
gross proceeds of $134,971,750.
    Empire intends to use substantially all of the net proceeds of the
Offering to reduce indebtedness with any remaining net proceeds to be used for
general corporate purposes.
    The Shares offered under the Offering have not been and will not be
registered under the United States Securities Act of 1933 and state securities
laws. Accordingly, the Shares may not be offered or sold to U.S. persons
except pursuant to applicable exemptions from registration. This press release
does not constitute an offer to sell or the solicitation of an offer to buy
nor will there be any sale of the securities in any state in which such offer,
solicitation or sale would be unlawful.

    About Empire

    Empire Company Limited (TSX: EMP.A) is a Canadian company headquartered
in Stellarton, Nova Scotia. Empire's core businesses include food retailing
and related real estate. With over $14 billion in annual revenue and
approximately $5.8 billion in assets, Empire employs approximately 42,000
people directly and through its subsidiaries.

    Cautionary Statement Regarding Forward-Looking Information

    This news release contains certain forward-looking statements regarding
Empire and the Offering referred to herein, including the anticipated use of
proceeds. These statements are based upon the assumption that the proceeds of
the offering can successfully be used as described above. Actual developments
may differ as a result of risks relating to market conditions, global
political uncertainties and investor demand. Empire disclaims any obligation
to update any forward-looking statement contained in this news release except
to the extent required by law.

For further information:

For further information: Paul V. Beesley, Executive Vice President and
Chief Financial Officer, (902) 755-4440

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