Divisional Court Dismisses Appeal of Sears Holdings Corporation

For Immediate Release Before the Court OSC

News Release
Communiqué


Ontario Securities
Commission


20 Queen St. W.
Box 55, Suite 1900
Toronto, ON M5H 3S8
Commission des valeurs mobilières de l'Ontario

FOR IMMEDIATE RELEASE

October 18, 2006

Divisional Court Dismisses Appeal of Sears Holdings Corporation

TORONTOThe appeal by Sears Holdings Corporation and SHLD Acquisition Corp. in respect of the decision of the Ontario Securities Commission dated August 8, 2006 , was heard on September 18 and 19, 2006 by the Superior Court of Justice ( Divisional Court ). On September 19, 2006 , the appeal was dismissed and on October 11, 2006 , the Reasons for Judgment in respect of the Court’s decision were issued.

Copies of the Reasons for Judgment can be obtained through the Court.

- 30 -

For Media Inquiries: Wendy Dey
Director, Communications
and Public Affairs
416-593-8120

Laurie Gillett
Manager, Public Affairs
416-595-8913

For Investor Inquiries: OSC Contact Centre
416-593-8314
1-877-785-1555 (Toll Free)