Sears Introduces Canada's First Home Renovation Tax Credit Installation Time Guarantee

• Press Release
• Source: Sears Canada Inc.
• On 8:55 am EDT, Thursday October 1, 2009

<< Sears Canada Offers Homeowners Installation Time Guarantees which meet Canada Revenue Agency's Eligibility Period >>

TORONTO, Oct. 1 /CNW/ - Sears Canada Inc. (TSX: SCC - News) announced today the launch of installation time guarantees for the federal government's Home Renovation Tax Credit (HRTC) program for residential renovations and improvements. No company in the country is more trusted than Sears Canada and Sears is the only national retailer to announce installation guarantees that ensure qualifying home renovations will be completed in time to meet the eligibility period requirement of the HRTC program.

"With only four months left in the program and winter on the way, Sears HRTC installation time guarantees are designed to provide assurance to customers that work on their homes will be done on time to comply with the February 1, 2010 deadline," said Dene Rogers, President and Chief Executive Officer, Sears Canada Inc. "For those still considering undergoing renovations that qualify for the HRTC rebate and wishing to get the work done in the latter part of the qualifying period, this installation time guarantee is the answer."

Installation time guarantees will be advertised to customers in the coming weeks; the first installation time guarantee being announced today is for replacement roofs. Homeowners who call Sears prior to October 15th, 2009 are guaranteed to have their roof installation completed by the deadline. Sears installs only premium quality shingles which carry manufacturers' warranties of 25 years or greater. There are additional savings available for Sears customers to maximize the value of their roof renovations. Until October 4th, customers can save 15% off 25-year warranty shingles, when they are installed by Sears, and between October 5th - 15th, customers can save 10% off 30-year warranty shingles when installed by Sears.

The federal government's Home Renovation Tax Credit Program is a 15% rebate which applies to eligible home expenditures made after January 27, 2009 and completed before February 1, 2010. This rebate applies to expenses of more than $1,000 up to $10,000 for a maximum credit of $1,350.

Sears offers a wide selection of installed home improvement products that are eligible for the tax credit program:

	    -   Furnaces: Top quality ENERGYSTAR rated 2-stage high efficiency
	        Carrier and Kenmore furnaces with up to 95% AFUE (Annual Fuel
	        Utilization Efficiency).

	    -   Tankless water heaters: Sears offers Rinnai and Navien tankless water
	        heaters that can help save up to 40% on your energy bill.

	    -   Windows: ENERGYSTAR rated vinyl, framed windows save customers money
	        through lower energy loss.

	    -   Kitchen and Bath renovations: Sears offers extensive renovation
	        options, including the installation of cabinets, countertops, sinks,
	        faucets, backsplash, flooring, electrical and plumbing.

	    -   Painting: Sears offers professional interior and exterior painting
	        services.
	    

To further assist consumers with their home renovation projects, homeowners can affordably finance their renovations with Sears 0% interest, 36 equal billing payment option available until December 31, 2009 when they use their Sears Card or Sears MasterCard. Consumers may also qualify for ecoEnergy rebates, potentially saving even more.

Customers wishing more information may call 1-800-4-MY-HOME (1-800-469-4663).

Sears Canada is a multi-channel retailer with a network of 196 corporate stores, 193 dealer stores, 41 home improvement showrooms, over 1,800 catalogue merchandise pick-up locations, 108 Sears Travel offices and a nationwide home maintenance, repair, and installation network. The Company also publishes Canada's most extensive general merchandise catalogue and offers shopping online at www.sears.ca.

For further information

Media Contact: Christine Aguilar, Sears Canada Inc., (416) 941-4427, caguil2@sears.ca

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