Hbc Announces $2.9 Million Donation to Support Canadian Olympic Hopefuls

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200 athletes and training facilities in Halifax, Montreal, Toronto, Saskatoon, Calgary and Vancouver to receive funds

Toronto, ON (COC) – Hudson’s Bay Company (Hbc) today announced it is donating $2.9 million to Canadian Olympic hopefuls, $2 million of which was raised through its annual Hbc Run for Canada campaign. The funds will go directly to 200 Canadian athletes, various national training centres and the country’s top sport organizations, in an effort to provide Canadian athletes with direct financial assistance and resources to help them reach the podium.

“As one of Canada’s leading retailers, we are proud to support the development of Canadian athletes working towards reaching their medal goals,” said Rob Johnston, President, Hbc. “Not only are we proud to dress the athletes competing at the Games, our commitment to raise over $20 million will have a direct impact on the ability of our athletes to compete on the world stage.”

The $2.9 million donation is the third installment of the $20 million Hbc has committed to raise by 2012, primarily through the annual Hbc Run for Canada event. To date, the Company has already raised nearly $6 million towards its goal. The funds were raised by the more than 13,000 Canadians who participated in the 2007 run, which will expand from 13 to 15 cities across the country in 2008. Edmonton and Quebec City will become the new host cities.

The remainder of the funds were raised through in-store activities and an annual golf tournament in support of the athletes. In addition to raising $20 million, Hbc hopes to build awareness for Canadian athlete funding and encourages Canadians to become involved in supporting their local athletes by participating in the annual Hbc Run for Canada in July.

“Talented athletes are constantly struggling to pay for the training, equipment and living expenses that are required to compete at the international level,” said Marc Gélinas, COC Director of Athlete and Community Relations. “The COC believes that all Canadian high performance athletes should be able to focus on their training and competitions. Hbc’s continued support ensures that they receive the much needed financial support leading up to the Beijing 2008 Olympic Games and also for many years to come.”

A total of $1 million will go directly to 200 competing Canadian athletes chosen by the Canadian Olympic Committee in consultation with the Canadian Paralympic Committee, Commonwealth Games Canada and the National Sport Federations. Each Federation has identified their medal hopefuls, including their up-and-comers for the 2010 Games and beyond. The remaining funds will go to organizations and training centres, which directly impact Canadian athletes.

For a complete list of the 200 Canadian athletes selected to receive funds through Hbc’s Run for Canada program, please visit: www.hbcrunforcanada.ca/2008/athletes.php

Funding Breakdown
$1,000,000
200 Canadian athletes

$300,000
“Own the Podium” – an initiative supporting athletes training for the Olympic Winter Games

$300,00
“Road to Excellence” – an initiative supporting athletes training for the Olympic Games

$300,000
Canadian Paralympic Foundation

$400,000
Commonwealth Games Canada

$300,000
Pacific Sport National Training Centre (Victoria)

$50,000 (each)
Canadian Sport Centre Atlantic (Halifax)
Centre National Multisport-Montreal
Canadian Sport Centre Ontario
Canadian Sport Centre Manitoba
Canadian Sport Centre Saskatchewan
Canadian Sport Centre Calgary

About Hbc
Hbc is Canada’s largest diversified general merchandise retailer, operating in department store (the Bay), mass merchandise (Zellers), specialty (Home Outfitters and Designer Depot) and discount (Fields) formats. With more than 580 retail locations and nearly 70,000 associates located in every province in Canada, Hbc provides Canadians with stylish, quality merchandise at great value, through retail banners focused on exceptional customer service. Hbc is a Canadian retail leader in corporate social responsibility, and the fifth annual Hbc CSR report can be found at www.hbc.com.

About the Canadian Olympic Committee
The Canadian Olympic Committee is a national, private, not-for-profit organization committed to sport excellence. It is responsible for all aspects of Canada’s involvement in the Olympic movement, including Canada’s participation in the Olympic and Pan American Games and a wide variety of programs that promote the Olympic Movement in Canada through cultural and educational means. For more information see the COC website: www.olympic.ca.

For more information, please contact:
Sofia Hondrogiannis
Harbinger
416-960-5100

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