Mr. Francois Thibault reports

METRO INC. PRICES AGGREGATE C$600 MILLION SENIOR UNSECURED NOTES OFFERING

Metro INC. has priced a private placement offering of $300-million in aggregate principal amount of 3.2-per-cent Series C senior unsecured notes due Dec. 1, 2021, and $300-million in aggregate principal amount of 5.03-per-cent Series D senior unsecured notes due Dec. 1, 2044. The Series C notes will carry a coupon of 3.2 per cent and were priced at $999.88 per $1,000 of principal amount for an effective yield of 3.202 per cent per annum if held to maturity. The Series C notes will mature on Dec. 1, 2021. The Series D notes will carry a coupon of 5.03 per cent and were priced at $999.54 per $1,000 of principal amount for an effective yield of 5.033 per cent per annum if held to maturity. The Series D notes will mature on Dec. 1, 2044. Metro intends to use the proceeds of the offering for working capital and other general corporate purposes, including repaying or refinancing the following existing indebtedness: (i) financing the redemption and retirement of a portion or all of its issued and outstanding 4.98-per-cent medium-term notes due Oct. 15, 2015; and (ii) repaying amounts outstanding under its unsecured revolving credit facility.

National Bank Financial Inc., BMO Nesbitt Burns Inc. and CIBC World Markets Inc. are acting as joint book-running managers for the offering, and Desjardins Securities Inc., RBC Dominion Securities Inc. Scotia Capital Inc. and TD Securities Inc. are acting as co-managers for such offering.

The notes have not been and will not be registered under the United States Securities Act of 1933, as amended, or any state securities laws, and may not be offered, sold or delivered in the United States of America or its territories or possessions, or to U.S. persons, except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities laws or pursuant to an exemption therefrom.

Any redemption or retirement of the 2015 notes will be made pursuant to a notice of redemption under the indenture governing the 2015 notes.

We seek Safe Harbor.