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Press release from CNW Group

George Weston Limited - Normal Course Issuer Bid

Friday, May 07, 2010

George Weston Limited - Normal Course Issuer Bid16:30 EDT Friday, May 07, 2010TORONTO, May 7 /CNW/ - George Weston Limited (TSX: WN) ("Weston") Board of Directors has authorized the repurchase of up to 6,453,683 of its common shares, representing 5% of the 129,073,662 common shares currently outstanding, by way of a normal course issuer bid on the Toronto Stock Exchange (the "TSX"). Daily purchases will be limited to 35,179 common shares, other than block purchase exceptions.The purchases may commence on May 11, 2010, and will terminate no later than May 10, 2011. Purchases will be made in open market transactions on the TSX. In addition, Weston may enter into forward purchase or swap contracts in connection with its common shares which may be settled by physical settlement, cash settlement or a combination thereof. The forward price will be based on market price, dividend yield and market interest rates.Decisions regarding the timing of future repurchases will be based on market conditions, share price and other factors. Weston may elect to suspend or discontinue the bid at any time. Common shares repurchased under the bid will be cancelled. Weston believes that the market price of its common shares could be such that their purchase may be an attractive and appropriate use of corporate funds.Weston has not made any purchases under its current normal course issuer bid, which expires on May 10, 2010.From time to time, when Weston does not possess material nonpublic information about itself or its securities, it may enter into a pre-defined plan with its broker to allow for the repurchase of common shares at times when Weston ordinarily would not be active in the market due to its own internal trading blackout periods and insider trading rules. Any such plans entered into with Weston's broker will be adopted in accordance with the requirements of applicable Canadian securities laws.About George Weston LimitedGeorge Weston Limited is one of North America's largest food processing and distribution groups operating in two segments: baking through Weston Foods, and food and general merchandise distribution through Loblaw Companies Limited.For further information: Geoffrey H. Wilson, Senior Vice President, Financial Services and Investor Relations, (416) 922-2500