Ms. Heather Reisman reports

INDIGO ANNOUNCES CFO'S PENDING DEPARTURE AND APPOINTMENT OF INTERIM SUCCESSOR

Laura Carr, Indigo Books & Music Inc.'s chief financial officer, will be departing the company and returning to the United Kingdom for personal reasons following the completion of the company's third-quarter results announcement in February.

Heather Reisman, Indigo's chief executive officer, has appointed Craig Loudon, Indigo's senior vice-president, business finance, to the position of interim chief financial officer, effective Feb. 9, 2017.

Commenting on the changes, Indigo founder and CEO Ms. Reisman said: "Laura has been an exceptional member of the team at Indigo over the past three years, and we all wish her the best for the future. With the appointment of Craig, she leaves us in good hands while we search for her permanent successor."

Mr. Loudon joined Indigo in August, 2014, reporting to Ms. Carr. Prior to joining Indigo, he worked in senior finance positions with Sears Canada, KIK Custom Products and Purolator Courier. Mr. Loudon holds an MBA from Insead and a bachelor of commerce from McGill University.

About Indigo Books & Music

As the largest book, gift and specialty toy retailer in Canada, Indigo operates in all provinces under different banners, including Indigo Books & Music; Indigo Books, Gifts, Kids; IndigoSpirit; Chapters; and Coles. The on-line channel offers a one-stop on-line shop with a robust selection of books, toys, home decor, stationery and gifts.

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