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This Site:en.yinlu.net Source:en.yinlu.net Writer: Time:2007-11-22

MONTREAL, Nov. 22 /CNW Telbec/ - Reitmans (Canada) Limited (the"Corporation") announced today that it has received approval from the TorontoStock Exchange to proceed with a normal course issuer bid. Under the bid, theCorporation may purchase up to 2,870,615 Class A Non-Voting Shares of theCorporation (the "Shares"), representing 5% of the issued and outstandingClass A Non-Voting Shares as at November 9, 2007. The average daily tradingvolume for the six month period preceding November 9, 2007 is 127,150 Shares.In accordance with the Toronto Stock Exchange requirements, a maximum dailyrepurchase of 25% of this average may be made.

The bid will commence on November 28, 2007 and may continue toNovember 27, 2008. The Shares will be purchased on behalf of the Corporationby a registered broker through the facilities of the Toronto Stock Exchange.The price paid for the Shares will be the market price at the time ofacquisition, and the number of Shares purchased and the timing of any suchpurchases will be determined by the Corporation's management. All Sharespurchased by the Corporation will be cancelled. The Corporation currently has57,412,306 Shares outstanding. During the past 12 months, the Corporationpurchased 560,800 Shares at an average price of $19.65 pursuant to a normalcourse issuer bid.

The directors of the Corporation have concluded that purchases of up to2,870,615 of the issued and outstanding Shares are an appropriate anddesirable use of the Corporation's available funds and, therefore, would be inthe best interests of the Corporation. As a result of such purchases, thenumber of issued Shares will be decreased and, consequently, the proportionateshare interest of all remaining shareholders will be increased on a pro ratabasis.

    Montreal, November 22, 2007    Jeremy H. Reitman, President    Telephone: (514) 385-2630    Corporate Website: 

All of the statements contained herein, other than statements of factthat are independently verifiable at the date hereof, are forward-lookingstatements. Such statements, based as they are on the current expectations ofmanagement, inherently involve numerous risks and uncertainties, known andunknown, many of which are beyond the Company's control. Such risks includebut are not limited to: the impact of general economic conditions, generalconditions in the retail industry, seasonality, weather and other risksincluded in public filings of the Company. Consequently, actual future resultsmay differ materially from the anticipated results expressed inforward-looking statements. The reader should not place undue reliance on theforward-looking statements included herein. These statements speak only as ofthe date made and the Company is under no obligation and disavows anyintention to update or revise such statements as a result of any event,circumstances or otherwise, except to the extent required under applicablesecurities law.

For further information

Jeremy H. Reitman, President, (514) 385-2630,

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