Reitmans (Canada) Limited reports December sales

    MONTREAL, Jan. 7 /CNW Telbec/ - Sales in December for the five weeks
ended January 3, 2009 decreased 2.7% while same store sales decreased 5.4%.
    Sales for the fourth quarter to date, being the nine weeks ended January
3, 2009, decreased 2.1% while same store sales decreased 4.8%.
    Sales for the year to date, being the forty-eight weeks ended January 3,
2009, were $1,001,244,000 compared with $1,003,826,000 last year.
    In the fourth quarter to date, the Company opened 8 new stores and closed
2 stores. Accordingly, at January 3, 2009, there were 984 stores in operation,
consisting of 380 Reitmans, 167 Smart Set, 59 RW & CO., 76 Thyme Maternity, 16
Cassis, 162 Penningtons and 124 Addition Elle, as compared with 964 stores
last year.

    All of the statements contained herein, other than statements of fact
that are independently verifiable at the date hereof, are forward-looking
statements. Such statements, based as they are on the current expectations of
management, inherently involve numerous risks and uncertainties, known and
unknown, many of which are beyond the Company's control. Such risks include
but are not limited to: the impact of general economic conditions, general
conditions in the retail industry, seasonality, weather and other risks
included in public filings of the Company. Consequently, actual future results
may differ materially from the anticipated results expressed in
forward-looking statements. The reader should not place undue reliance on the
forward-looking statements included herein. These statements speak only as of
the date made and the Company is under no obligation and disavows any
intention to update or revise such statements as a result of any event,
circumstances or otherwise, except to the extent required under applicable
securities law.
    %SEDAR: 00002316EF

For further information: Jeremy H. Reitman, President, (514) 385-2630