Faster Rewards for Sears Cardmembers

Sears Canada Inc. [TSX: SCC] and Chase Card Services, a division of JPMorgan Chase & Co. [NYSE: JPM], announced today the introduction of enhancements to Sears Club, the loyalty program of the Sears Card. These enhancements include a new lower, first-level redemption opportunity, an automatic redemption option mailed directly to members and a new consumer web site. Sears Club offers up to three percent rewards on most purchases made on the Sears Card.

Sears Club continues to provide great value to the approximately nine million Sears cardmembers and now enables them to access their Sears Club information online through www.sears.ca/rewards. Once connected, members can view their point balance, access exclusive Sears Club promotions and request a redemption rewards card. The redemption rewards card offers the advantages of a gift card and can be used to purchase most merchandise and services available in Sears stores, through the Catalogue and online at www.sears.ca.

“Sears Club was introduced over 20 years ago, and has grown rapidly as it offers tremendous value to our customers,” said Richard A. Brown, Senior Vice-President and Corporate Development Officer, Sears Canada Inc. “This is one of the highest value reward programs in the country. We’ve listened to our customers’ feedback and have now responded with enhancements that reflect their desire for an easier, more convenient program that lets them reward themselves in a meaningful way.”

In addition to the new automatic redemption feature, Sears Club members will enjoy several other benefits, including:


A lower minimum redemption threshold (lowered from $1,000 to $500);
Simplified reward levels;
Online redemption process at www.sears.ca/rewards;
Ease of viewing points accumulation and balance;
Online access to points accumulation and balance;
More redemption flexibility with Sears Club Rewards card; and
No annual fee.

“We continually look for ways to support Sears Canada in offering Sears cardmembers valuable rewards and convenience,” said Sherri Silver, senior vice president, Chase Card Services. “The lower redemption level of 500 points provides rewards to more Sears cardmembers than ever.”

“Automatic redemption is a consumer-friendly feature,” said Duncan McKie, vice-chairman of POLLARA Inc., the largest Canadian-owned market research and polling firm. “It reassures customers that they will never miss being rewarded for points they have earned.”

In conjunction with the launch of the enhanced Sears Club program, Sears Canada is conducting a special promotion April 6 - 8 as part of its “Scratch & Save or Win” weekend promotion. Sears Club members who make purchases on their Sears Card can scratch for a chance to win up to 12,000 Sears Club points, equivalent to 360 reward dollars. Details are in-stores and online.

For more information about Sears Club or to apply for the Sears Card call toll free 800-265-3675 or visit www.sears.ca.

About Sears Canada

Sears Canada is a multi-channel retailer with a network of 196 corporate stores, 178 dealer stores, 64 home improvement showrooms, over 1,850 catalogue merchandise pick-up locations, 106 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.

About Chase in Canada

In 2005, Chase expanded its offerings by partnering with Sears Canada and becoming the official credit card issuer of the Sears MasterCard and Sears Card. Chase also offers the Marriott Rewards Platinum Visa Card and the Chase Gold MasterCard. In addition, Chase Card Services employs more than 1,400 Canadians in its offices in Toronto, Vancouver and Ottawa.

About JPMorgan Chase & Co.

JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $1.4 trillion and operations in more than 50 countries. The company has more than 140 million credit cards issued. Under the JPMorgan and Chase brands, the firm serves millions of consumers internationally and many of the world’s most prominent corporate, institutional and government clients. Information about the firm is available at www.jpmorganchase.com