Canadian Retail Industry Names Steve Matyas of STAPLES Business Depot As Canadian Retail Hall of Fame Inductee

Toronto, May 29, 2007 – Retail Council of Canada (RCC) announced today that Steve Matyas, President of STAPLES Business Depot, will be honoured as the 2007 inductee into the Canadian Retail Education Hall of Fame. Mr. Matyas was nominated and selected by a distinguished panel of current and former retail executives, as well as representatives from the financial, academic and consulting communities.

"Mr. Matyas is being honoured for his passionate commitment to promoting retail as a career and for his contributions to the retail industry in Canada," says Diane J. Brisebois, President and CEO, Retail Council of Canada. "Mr. Matyas continues to give generously of his time to promote retail as a career through his work with retail programs at the University of Alberta and Ryerson University. His unwavering support has had a tremendous impact on retail's future leaders and the industry as a whole."

"I feel very fortunate to be honoured by Canada's retail industry and be inducted into the Canadian Retail Hall of Fame," says Steve Matyas. "Retailers play an important role in supporting communities and creating a vibrant and healthy economy, so it's critical that we become involved in educating our young people and letting them know about the wide range of exciting options and opportunities available in retail. It's important for those entering the work force to know that retail has become a well respected career choice, and one that provides significant advancement opportunities."

As a retail industry veteran, Mr. Matyas has held senior positions in Canadian and international retailing for more than 25 years. In 1981, Mr. Matyas joined Shoppers Drug Mart Ltd. as an Operations Consultant and during his tenure worked as Director of Merchandising and Director of Marketing and Advertising. He also held the positions of Executive Vice-President and Chief Operating Officer with Superpharm Ltd., in an overseas posting in Israel, as well as with Flertom Investments Inc., both divisions of Koffler Associates Ltd. In early 1991, Mr. Matyas was the first employee to join Jack Bingleman's start-up operation now known as STAPLES Business Depot. Prior to his current appointment as President, Mr. Matyas held various positions including Vice-President, Sales and Operations and Vice-President, Operations, Human Resources and Store Planning. Mr. Matyas was appointed President in 2000.

Mr. Matyas is also actively committed to the long-term growth of Canada's retail industry and the development of promoting retail as a career. His passion for retail compelled him to volunteer at the University of Alberta to assist in fundraising for the new School of Retailing and he continues to serve on Ryerson University Retail School's advisory committee to promote and support retail as a career. STAPLES Business Depot also helps fund RCC's annual Retail as a Career Scholarship Program.

Mr. Matyas is a member of the Board of Directors of Retail Council of Canada, in addition to being a Director of EPCOR Utilities Inc. and K-Bro Linens.

This award will be presented to Mr. Matyas on behalf of the retail industry at the Canadian Retail Hall of Fame luncheon on Tuesday, June 5, 2007. The luncheon, part of STORE 2007 — Canada's Retail Conference, will take place at the Toronto Congress Centre from 1:30 – 3 p.m. RCC will also award 24 students $1,000 in scholarships to those seeking a career in the retail industry.

The Canadian Retail Hall of Fame was established by RCC to recognize merchants who have demonstrated leadership in advancing retail as a career and who have supported lifelong learning in retail.

Mr. Matyas joins a notable list of past inductees including George Heller, Senior Director of Hbc, and Harry Rosen, Executive Chairman of Harry Rosen Inc. (2006); Christine Magee and Stephen Gunn, Co-Founders of Sleep Country Canada (2005); and Mario Pilozzi, President and CEO of Wal-Mart Canada (2004).

> For more information about STORE 2007, Canada's Retail Conference, log on to www.storeconference.ca.

About Retail Council of Canada
Retail Council of Canada (www.retailcouncil.org) is the Voice of Retail. It is a not-for-profit association representing more than 40,000 stores of all retail formats, including independent merchants, regional and national mass and specialty chains, and online merchants.

Media are invited to attend STORE 2007. For more information and to RSVP, contact: Stephanie Petroff, Manager, National Public Affairs, (416) 922-0553, ext. 228; e-mail: spetroff@retailcouncil.org; or Meredith Smith, Account Manager, Pipeline Communications, (416) 694-2777, ext. 223; e-mail: meredith@pipelinecommunications.ca.