Sears Holdings Corporation (NASDAQ: SHLD) ("Sears Holdings") announced today that its wholly-owned subsidiary SHLD Acquisition Corp. has extended its offer for all the common shares of Sears Canada Inc. ("Sears Canada") not owned by Sears Holdings until 5:00 p.m. (Eastern Daylight Time) on September 29, 2006. A formal notice of the extension of the offer will be mailed to Sears Canada shareholders today. On September 18, 2006 the Ontario Divisional Court will hear argument on the appeal by Sears Holdings and SHLD Acquisition Corp. of the order of the Ontario Securities Commission dated August 8, 2006. As a result of the order, SHLD Acquisition Corp. is prohibited from taking up and paying for common shares deposited under the offer unless the conditions specified in the order are complied with or the order is set aside. The offer has been extended, and may be further extended, to preserve Sears Holdings' rights under the offer pending the outcome of the appellate process.
About Sears Holdings Corporation
Sears Holdings Corporation is the nation's third largest broadline retailer, with approximately $55 billion in annual revenues, and with approximately 3,800 full-line and specialty retail stores in the United States and Canada. Sears Holdings is the leading home appliance retailer as well as a leader in tools, lawn and garden, home electronics and automotive repair and maintenance. Key proprietary brands include Kenmore, Craftsman and DieHard, and a broad apparel offering, including such well-known labels as Lands' End, Jaclyn Smith and Joe Boxer, as well as the Apostrophe and Covington brands. It also has Martha Stewart Everyday products, which are offered exclusively in the U.S. by Kmart and in Canada by Sears Canada. The company is the nation's largest provider of home services, with more than 13 million service calls made annually. For more information, visit Sears Holdings' website at www.searsholdings.com .
SOURCE: Sears Holdings Corporation
CONTACT: Sears Holdings Public Relations, +1-847-286-8371
Web site: http://www.searsholdings.com/