Mr. W. Galen Weston reports

GEORGE WESTON LIMITED ANNOUNCES ITS INTENTION TO INVEST $200 MILLION IN CHOICE PROPERTIES REAL ESTATE INVESTMENT TRUST

George Weston Ltd. has provided information about an investment. Choice Properties REIT, a real estate investment trust created by George Weston's subsidiary, Loblaw Companies Ltd., has filed preliminary prospectuses regarding an initial public offering of trust units and a concurrent offering of senior unsecured debentures with securities regulatory authorities in Canada.

Copies of the preliminary prospectuses will be available on SEDAR.

Weston also announced today its intention to purchase 20 million units of the REIT at the offering price for a total amount of $200-million.

"I am excited about the potential of Choice Properties REIT to maximize the value of Loblaw's real estate over time while ensuring that Loblaw remains well positioned to grow the business going forward. I believe a direct investment in the REIT is a good investment for Weston that will yield incremental value to our shareholders," commented W. Galen Weston, executive chairman of the company.

We seek Safe Harbor.