Canadian Tire to redeem $150 million of debentures

TORONTO , Sept. 21 /CNW/ - Canadian Tire Corporation, Limited (CTC, CTC.a) announced today that it has exercised its right to redeem all $150 million of outstanding 12.10% Debentures due May 10, 2010 (the "Debentures") on the following terms:

    
    -   Redemption Date: October 22, 2009.
    -   Redemption Price: $1,062.62 per $1,000 principal amount.
    -   Accrued and Unpaid Interest: $54.70 per $1,000 principal amount.
    -   Total Redemption Price and Accrued and Unpaid Interest: $1,117.32 per
        $1,000 principal amount.
    

The redemption price has been determined in accordance with the provisions of the Trust Indenture dated May 10, 1990 . Interest accrued on the Debentures up to, but not including, the redemption date will be paid on the redemption date.

Holders of Debentures who have questions about the redemption should consult with their broker or advisor. The Trustee for the Debentures, CIBC Mellon Trust Company, may also be contacted toll free at 1-800-387-0825 or by email at [email protected]

Canadian Tire Corporation, Limited (TSX: CTC.a, CTC), operates more than 1,200 general merchandise and apparel retail stores and gas stations in an inter-related network of businesses engaged in retail, financial services and petroleum. Canadian Tire Retail, Canada's most shopped general merchandise retailer, with 475 stores operated by Dealers across Canada offers a unique mix of products and services through three specialty categories in which the organization is the market leader - Automotive, Sports and Leisure, and Home Products. www.canadiantire.ca offers Canadians the opportunity to research more than 25,000 products online. PartSource is an automotive parts specialty chain with 88 stores designed to meet the needs of purchasers of automotive parts - professional automotive installers and serious do-it-yourselfers. Canadian Tire Petroleum is one of the country's largest and most productive independent retailers of gasoline, operating 273 gas bars, 267 convenience stores and kiosks, and 73 car washes. Mark's Work Wearhouse is one of the country's leading apparel retailers operating 375 stores in Canada . Under the Clothes that Work(TM) marketing strategy, Mark's sells apparel and footwear in work, work-related, casual and active-wear categories, as well as health-care and business-to-business apparel. www.marks.com offers Canadians the opportunity to shop for Mark's products online. Canadian Tire Financial Services has issued over five million Canadian Tire MasterCard credit cards and also markets related financial products and services for retail and petroleum customers. Canadians can also access Financial Services online at www.ctfs.com. More than 57,000 Canadians work across Canadian Tire's organization from coast-to-coast in the enterprise's retail, financial services, and petroleum businesses.

For further information: Media: Lisa Gibson, Canadian Tire Corporation, [phone], [email protected]; Investors: Karen Meagher, Canadian Tire Corporation, [phone], [email protected]