George Weston Limited - Redemption of Outstanding 3% Exchangeable Debentures

Apr 07, 2008, 01:00 ET from George Weston Limited

    TORONTO, April 7 /PRNewswire-FirstCall/ - George Weston Limited
 (Weston) (TSX: WN) announced today that it has given notice that it has
 exercised its right to redeem all of the outstanding 3% exchangeable
 debentures pursuant to the trust indenture dated June 29, 1998 made between
 Weston and Computershare Trust Company of Canada by paying cash of C$633.08
 per each C$1,000 principal amount of debentures plus accrued but unpaid
 interest to the Redemption Date of May 22, 2008, for an aggregate amount
 including interest of approximately of C$139,647,000.
     George Weston Limited is a Canadian public company founded in 1882 and
 through its operating subsidiaries constitutes one of North America's
 largest food processing and distribution groups. Weston has two reportable
 operating segments: Weston Foods and Loblaw, which is operated by Loblaw
 Companies Limited. The Weston Foods operating segment is primarily engaged
 in the baking and dairy industries within North America. Loblaw is Canada's
 largest food distributor and a leading provider of general merchandise,
 drugstore and financial products and services.

SOURCE George Weston Limited