Canadian Tire Corporation, Limited (CTR.NV, CTR) today announced that it intends to make a normal course issuer bid to purchase, from February 19, 2005 to February 18, 2006 through the facilities of the Toronto Stock Exchange, certain of its outstanding Class A Non-Voting
Shares. As at February 10, 2005, there were 77,776,016 Class A Non-Voting Shares issued and outstanding. The number of Class A Non-Voting Shares which may be purchased during the period of the bid will not exceed 1.8 million Class A Non-Voting Shares, which is approximately 2.5 percent of 73 million shares, the approximate public float of Class A Non-Voting Shares issued and outstanding as of February 10, 2005.

Canadian Tire has a policy of purchasing Class A Non-Voting Shares to offset the dilutive effects of the issuance of Class A Non-Voting Shares pursuant to employee profit sharing, stock option and share purchase arrangements and the Dividend Reinvestment Plan.

The number of Class A Non-Voting Shares purchased during 2004 pursuant to a normal course issuer bid was 1,541,100. The average price at which such purchases were made was $47.90 per Class A Non-Voting Share, including commissions. Also during 2004, the trustees of an employee profit sharing plan of Canadian Tire purchased 194,000 Class A Non-Voting Shares. The average price at which such purchases were made was $48.49 per Class A Non-Voting Share, also including commissions.

Canadian Tire's normal course issuer bid is subject to regulatory approval.

Canadian Tire Corporation, Limited (TSX: CTR.NV, CTR), Canada's most-shopped general merchandise retailer, operates more than 1,100 stores, gas bars and car washes in an inter-related network of businesses engaged in retail, financial services and petroleum. Canadian Tire Retail, with 457 stores operated by Associate Dealers across Canada offers a unique mix of products and services through three specialty categories in which the organization is the market leader - Automotive, Sports and Leisure, and Home Products. www.canadiantire.ca offers Canadians the opportunity to shop online. PartSource is an automotive parts specialty chain with 47 stores designed to meet the needs of purchasers of automotive parts - professional automotive installers and serious do-it-yourselfers. Canadian Tire Petroleum is one of the country's largest and most productive independent retailers of gasoline, operating 253 gas bars and 58 car washes. Mark's Work Wearhouse is one of the country's leading apparel retailers operating 333 stores in Canada. Under the Clothes that Work(TM) banner, Mark's, sells apparel and footwear in work, work-related, casual and active-wear categories, as well as health-care and business-to-business apparel. www.marks.com offers Canadians the opportunity to shop online. Canadian Tire Financial Services manages more than 3.8 million
Options MasterCard accounts and markets related financial products and services for retail and petroleum customers. More than 45,000 Canadians work across Canadian Tire's organization from coast-to-coast in the enterprise's retail, financial services, and petroleum businesses.

For further information: Media, Scott Bonikowsky, Divisional VP, Corporate Communication, (416) 480-8570, bonikowsky@cantire.com; Investors, Bob Tait, Director, Investor Relations, (416) 480-3207, btait@cantire.com; To request a free copy of this organization's annual report, please go to http://www.newswire.ca and click on reports@cnw.

Source: Canada NewsWire