TORONTO, Feb. 8 /CNW/ - Canadian Tire Corporation, Limited (CTC, CTC.a)
today announced that it intends to make a normal course issuer bid to
purchase, from February 19, 2007 to February 18, 2008 through the facilities
of the Toronto Stock Exchange, certain of its outstanding Class A Non-Voting
Shares. As at February 8, 2007, there were 78,102,437 Class A Non-Voting
Shares issued and outstanding. The number of Class A Non-Voting Shares which
may be purchased during the period of the bid will not exceed 1.4 million
Class A Non-Voting Shares, which is approximately 1.9 percent of 74 million
shares, the approximate public float of Class A Non-Voting Shares issued and
outstanding as of February 8, 2007.
    Canadian Tire has a policy of purchasing Class A Non-Voting Shares to
offset the dilutive effects of the issuance of Class A Non-Voting Shares
pursuant to employee profit sharing, stock option and share purchase
arrangements and the Dividend Reinvestment Plan.
    The number of Class A Non-Voting Shares purchased during 2006 pursuant to
a normal course issuer bid was 1,207,300. The average price at which such
purchases were made was $68.49 per Class A Non-Voting Share, including
commissions.
    Canadian Tire's normal course issuer bid is subject to regulatory
approval.

    Canadian Tire Corporation, Limited (TSX: CTC, CTC.a), operates more than
1,100 stores, gas bars and car washes 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 468 stores
operated by Associate 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 shop online.
PartSource is an automotive parts specialty chain with 63 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 260 gas bars, 251 convenience stores and kiosks, and 74 car washes.
Mark's Work Wearhouse is one of the country's leading apparel retailers
operating 339 stores in Canada. Under the Clothes that Work™ 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 online.
Canadian Tire Financial Services manages over 4 million Canadian Tire
MasterCard accounts and markets related financial products and services for
retail and petroleum customers. Canadians can also access Financial Services
online at www.ctfs.com. Over 50,000 Canadians work across Canadian Tire's
organization from coast-to-coast in the enterprise's retail, financial
services, and petroleum businesses.

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