The Brick Group reports anticipated termination of subordination arrangements


    EDMONTON, Jan. 29 /CNW/ - (TSX:BRK.UN) The Brick Group Income Fund (the
"Brick Group") announced today that it expects to exceed the financial tests
required to terminate the subordination arrangements with respect to the Class
B Trust Units of the Brick Group (the "Class B Units") currently held by the
founder of the Brick Group, William Comrie. Pursuant to the Brick Group's
Declaration of Trust, the subordination arrangements terminate at the end of
the 2007 fiscal year provided the Brick Group has earned EBITDA of at least
$82,848,000 and paid average monthly distributions per trust unit equal to
$0.10 during the year. On the termination of the subordination arrangements,
the Class B Units will become exchangeable for Class A Trust Units of the
Brick Group on a one-for-one basis. The termination of the subordination
arrangements is subject to the completion of the Brick Group's audit for the
year ended December 31, 2007 and the approval of such financial statements by
the board of trustees, which is anticipated to occur in March 2008.


    Certain forward-looking statements regarding the termination of the
subordination arrangements for the Class B Units are made in this news
release. These statements speak only as of the date of this press release and
reflect management's current expectations regarding its financial results for
the year ended December 31, 2007 and are based on information currently
available to management. The Brick Group's actual results for the year ended
December 31, 2007 could differ materially from those anticipated in these
forward-looking statements and there can be no assurance that the financial
test to release the subordination on the Class B Units will be met or
exceeded. Reliance should not be placed on forward-looking statements because
they involve known and unknown risks, uncertainties and other factors, which
may cause the actual results, performance or achievements of the Brick Group
to differ materially from anticipated results, performance or achievement
expressed or implied by such forward-looking statements. In particular, the
Brick Group's financial results for the year ended December 31, 2007 have not
yet been finalized and are subject to an audit by the Brick Group's auditors
and the approval of its board of trustees. Readers are cautioned not to place
undue reliance on these forward-looking statements. The Brick Group undertakes
no obligation to publicly update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise, other than
as required by applicable law.


    The Brick Group is one of Canada's largest volume retailers of household
furniture, mattresses, appliances and home electronics, operating under four
banners: The Brick, United Furniture Warehouse, The Brick Superstore, and The
Brick Mattress Store. In addition, through its corporate sales division, the
Brick Group services the subdivision, condominium, and high-rise builder
market. The Brick Group's retail operations are located in British Columbia,
Alberta, Saskatchewan, Manitoba, Ontario, Quebec, Prince Edward Island, Nova
Scotia and the Yukon Territory.
    Further information can be found in the disclosure documents filed by The
Brick Group Income Fund with the securities regulatory authorities, available
at or on The Brick Group's website, available at

For further information:

For further information: Kim Yost, President and CEO, The Brick Group,
(780) 930-6300,; Mike Borys, Executive Vice
President and CFO, The Brick Group, (780) 930-6300,

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