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Loblaw To Create One Of The Largest Real Estate Investment Trusts In Canada

Stocks in this article: L

Loblaw expects to consolidate the REIT's financial results for financial reporting purposes and believes the Company's consolidated profitability will be minimally impacted.  The contemplated transaction is not expected to affect Loblaw's investment grade credit rating.

The company will host a conference call at 9:00 a.m. (ET), as well as an audio webcast. To access via tele-conference please dial (647) 427-7450. The playback will be made available two hours after the event at (416) 849-0833, access code: 78891090. To access via audio webcast please go to the "Investor Centre" section of loblaw.ca. Pre-registration will be available.

Forward-Looking Statements

This News Release contains forward-looking statements about the Company's objectives, plans, goals, aspirations, intentions, strategies, prospects and opportunities. Forward-looking statements in this News Release include statements relating to the proposed REIT transaction and expected future attributes of the REIT following the transaction; the anticipated benefits of the transaction to Loblaw and its shareholders; the expected ratings impact to Loblaw; Loblaw's expected ownership level in the REIT; the timing of the potential transactions; and that applicable regulatory approvals will be obtained. These forward-looking statements are not historical facts but reflect the Company's current expectations concerning future plans, actions and results.  These statements are subject to a number of risks and uncertainties that could cause actual plans, actions and results to differ materially from current expectations including, but not limited to, unanticipated developments that may delay or negatively impact the proposed transaction, changes in economic and market conditions, and other risks and uncertainties discussed in the Company's materials filed with the Canadian securities regulatory authorities from time to time, including the Enterprise Risks and Risk Management section of the Management's Discussion and Analysis ("MD&A") and the MD&A included in the Company's 2011 Annual Report - Financial Review.  There can be no assurance that the proposed transaction will be completed as anticipated or at all. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect the Company's expectations only as of the date of this News Release. The Company disclaims any intention or obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

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