- 4 October, 2006 -

Canadian Tire Corporation, Limited (TSX: CTC.a, CTC) today announced the appointment of Paul Wilson as the President of Mark's Work Wearhouse (Mark's). Mike Lambert, who has shared the co-presidency of Mark's Work Wearhouse with Paul Wilson since 2003, is departing to advance his career with a non-retail organization in his home province of Alberta. "There is simply no better individual to lead Mark's into the future than Paul Wilson," said Tom Gauld, president and CEO of Canadian Tire. "He is a relentless student of retail, always attuned to the needs of our customers. With more than 25 years in Canadian retail, Paul has built an impressive track record of merchandizing innovation and operational leadership. He developed the highly successful Clothes that Work marketing strategy and directed the network and category expansion initiatives that have generated industry-leading earnings and same store sales growth for Mark's. I would like to thank Mike Lambert for his significant contributions to Mark's success and we wish him every success in his new position. I know that he joins me in enthusiastically endorsing the appointment of his colleague Paul Wilson." After completing his commerce degree in 1981, Paul was recruited into Simpson's Fast Track Management Training Program. He joined Mark's in 1992, following a six-year career at the Robinson's department store chain. His contributions to Mark's turnaround strategy significantly increased sales during the past five years. Paul was promoted to senior vice-president, Sales and Marketing in 1996 and in 1998, he was appointed chief operating officer where he developed a key phase of Mark's repositioning strategy resulting in record earnings performance. Subsequent to Canadian Tire's acquisition of Mark's in 2002, Paul accepted the role of co-president and chief operating officer and has been a key contributor to positioning Mark's as Canada's largest retailer in its segment. Since Canadian Tire acquired Mark's, the business has grown from $488 million in sales, with earnings of approximately $17 million, to $790 million in sales with $65 million in earnings. Canadian Tire Corporation, Limited (TSX: CTR.NV, CTR) 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, Canada's most-shopped general merchandise retailer, with 464 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 59 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 262 gas bars, 248 convenience stores and kiosks, and 73 car washes. Mark's Work Wearhouse is one of the country's leading apparel retailers operating 330 stores in Canada. Under the Clothes that Work(TM) marketing strategy, 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 over 4 million Canadian Tire MasterCard accounts and markets related financial products and services for retail and petroleum customers. Financial Services can also be accessed online at www.ctfs.com. More than 50,000 Canadians work across Canadian Tire's organization from coast-to-coast in the enterprise's retail, financial services, and petroleum businesses. For further information: Investors and Media, Scott Bonikowsky Divisional VP, Corporate Communication & Investor Relations, (416) 480-8570, bonikowsky@cantire.com

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