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Press release from CNW Group

Brick announces Ken Grondin Appointed as CFO and President, Financial Operations

Monday, July 18, 2011

Brick announces Ken Grondin Appointed as CFO and President, Financial Operations18:38 EDT Monday, July 18, 2011NOT FOR DISTRIBUTION THROUGH U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE U.S.Thanks David Merkley for his Service to The Brick GroupEDMONTON, July 18, 2011 /CNW/ - The Brick Ltd. (TSX: BRK) ("The Brick Group") today announced the appointment of Ken Grondin as Chief Financial Officer and President, Financial Operations effective August 2, 2011.  Mr. Grondin succeeds David Merkley, The Brick Group's current Chief Financial Officer, who has announced his relocation back to Ontario for personal reasons.Prior to joining The Brick Group, Mr. Grondin served as Senior Vice President and Chief Financial Officer of Parkland Fuel Corporation (TSX: PKI), Canada's largest independent marketer and distributor of petroleum products supporting over 600 retail fuel stations. Ken also brings significant retail experience having served eight years as the Chief Financial Officer of Nygard International, a leading North American designer and retailer of women's fashion operating over 170 retail stores in Canada. Mr. Grondin is a Chartered Accountant, Certified Management Account and Chartered Business Valuator and a graduate of the University of Waterloo with a Masters of Accounting and Bachelors of Arts (Honours).President and Chief Executive Officer of The Brick Group, Bill Gregson commented, "We are pleased that an individual of Ken's caliber has joined our team.  His leadership and experience will contribute to the continuing success we have experienced at The Brick since the second half of 2009."Vi Konkle, who will become The Brick Group's President and Chief Executive Officer on January 1, 2012, and currently The Brick Group's President, Business Support, added "We look forward to working with Ken.  His financial acumen and operational experience will definitely have a positive impact as we continue to move forward."Since joining The Brick Group in June, 2010, David Merkley has served as Chief Financial Officer of The Brick Group. Bill Gregson commented: "I want to thank David for his significant contributions to The Brick Group.  He has strengthened the financial position and improved the financial management of The Brick Group.  We wish David well in all of his future endeavours."About The Brick GroupThe Brick Group, together with its subsidiaries, is one of Canada's largest volume retailers of household furniture, mattresses, appliances and home electronics, operating under five banners: The Brick, United Furniture Warehouse, The Brick Superstore, The Brick Mattress Store, and Urban Brick. In addition, through its corporate sales division, The Brick Group services the subdivision, condominium, and high-rise builder market. The Brick Group's retail operations are located in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec, Prince Edward Island, Nova Scotia, New Brunswick, Northwest Territories and Yukon.Forward-Looking Statements This news release contains "forward-looking statements" within the meaning of applicable Canadian securities laws, including (but not limited to) statements about the Brick's consolidated sales and operating revenue, consolidated EBITDA, consolidated net loss, sales and operating revenue in the financial services and retail segments, same store sales growth and goodwill and indefinite life intangible asset impairment charges, the financial flexibility and capital resources necessary to manage the business in the current economic environment, and similar statements concerning anticipated future events, results, circumstances, performance or expectations, that reflect management's current expectations and are based on information currently available to management of the Brick and its subsidiaries. The words "may", "will", "should", "believe", "expect", "plan", "anticipate", "intend", "estimate", "predict", "potential", "continue" or the negative of these terms, or other expressions which are predictions of or indicate future events and trends and which do not relate to historical matters, identify forward-looking matters. Reliance should not be placed on forward-looking statements because they involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the Brick to differ materially from anticipated future results, performance or achievement expressed or implied by such forward-looking statements. The Brick undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, other than as required by applicable law.For further information: Bill Gregson            Greg Nakonechny President and CEO      Vice President, Legal and Corporate Secretary   The Brick Group           The Brick Group (780) 930-6300            (780) 930-6300