BAY HARBOR ISLANDS, FLORIDA--(Marketwired - Nov 14, 2014) - ESL Partners, L.P. and Edward S. Lampert on November 13, 2014, acquired 2,873,086 common shares ("Shares") of Sears Canada Inc. ("Sears Canada") at a price of US$9.50 (C$10.78) per Share, representing approximately 2.8% of the outstanding Shares. The Shares were acquired by ESL Partners, L.P. and Edward S. Lampert pursuant to the exercise of over-subscription privileges granted by Sears Holdings Corporation in a subscription rights offering. Following the subscription rights offering and the corresponding acquisition of Shares by ESL Partners, L.P., Edward S. Lampert and certain affiliated entities (collectively, the "ESL Entities"), the ESL Entities own in aggregate 50,438,809 Shares, representing approximately 49.5% of the outstanding Shares.

This press release shall not be construed as an admission that any of the ESL Entities owns or controls, for the purposes of Section 13(d) or 13(g) of the United States Securities Exchange Act of 1934, or any other purpose, any securities covered by this press release.

For a copy of the early warning report corresponding to this press release, please contact Harold Talisman, ESL Investments, Inc., 1170 Kane Concourse, Suite 200, Bay Harbor Islands, Florida 33154 at (305) 702-2100.