Loblaw Establishes Medium Term Note Program and Completes $350M Medium Term Note Offering

On May 5, 2009, Loblaw Companies Limited established a Medium Term Note Program providing for the issuance of up to $775,000,000 principal amount of Medium Term Notes, Series 2. The Medium Term Note Program was established pursuant to a prospectus supplement to an existing $1 billion shelf prospectus for unsecured debentures and second preferred shares, which Loblaw implemented in 2008. Loblaw completed an issuance of $350,000,000 principal amount of Medium Term Notes, Series 2-A under the new program on May 8, 2009. The Medium Term Notes, Series 2-A were placed by a syndicate of agent dealers co-led by CIBC World Markets Inc. and RBC Dominion Securities Inc., and included BMO Nesbitt Burns Inc., Merrill Lynch Canada Inc., National Bank Financial Inc., Scotia Capital Inc. and TD Securities Inc.

Loblaw was represented by Robert A. Balcom, senior vice president and secretary, David G. Gore, vice-president, legal counsel and Adam Walsh, legal counsel, who were assisted by Borden Ladner Gervais LLP with a team that included Paul A.D. Mingay, Gordon G. Raman, Dyana McLellan, Shaunik Katyal and Andrew Bunston (corporate and securities) and Larissa V. Tkachenko (tax).

The syndicate of agent dealers was represented by McCarthy Tétrault LLP with a team that included Edward P. Kerwin, Matthew S. Kelleher, Wendi A. Locke and Jason J. Badal (corporate and securities) and James G. Morand (tax).