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Press release from CNW Group

The Brick Ltd. Announces Normal Course Issuer Bid

Monday, August 29, 2011

The Brick Ltd. Announces Normal Course Issuer Bid08:30 EDT Monday, August 29, 2011/NOT FOR DISTRIBUTION THROUGH U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE U.S./EDMONTON, Aug. 29, 2011 /CNW/ - The Brick Ltd. (TSX: BRK) (the "Corporation") announced today that the Toronto Stock Exchange ("TSX") has accepted the Corporation's notice of intention to make a normal course issuer bid ("NCIB"). The TSX approves The Brick to buyback up to 5% of its outstanding shares and warrants.  Pursuant to the NCIB, the notice provides that the Corporation may, during the 12-month period commencing August 30, 2011 and ending August 29, 2012, purchase for cancellation on the TSX up to 6,104,691 of its Class A Common Shares (the "Shares") representing 5% of the 122,093,821 outstanding Shares as at August 15, 2011 and up to 558,423 of its outstanding warrants (the "Warrants") representing 5% of the 11,168,470 outstanding Warrants as at August 15, 2011 through the facilities of the TSX.  The average daily trading volume for the Shares is 213,526 permitting a daily limit buyback of 53,382.  The average daily trading volume for the Warrants is 22,066 permitting a daily limit buyback of 5,516. The Warrants are exercisable for Shares of the Corporation on a one-for-one basis until May 27, 2014 and the exercise price is $1.00. The Board of Directors of the Corporation believes that such purchases are in the best interests of the Corporation and are a desirable use of corporate resources.On May 26, 2011, the Corporation announced it had repurchased for cancellation the maximum number of Shares, being 2,763,066, and Warrants, being 5,945,490, authorized by the TSX under its normal course issuer bid which commenced August 10, 2010.  The repurchase of 5% was completed for a total of approximately $16 million, at an average price of $2.62 for the Shares and $1.47 for the Warrants.The Corporation, through its operating 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.This press release contains forward-looking information within the meaning of applicable securities laws. Forward-looking information is subject to certain factors, including risks and uncertainties, that could cause actual results to differ materially from what the Corporation currently expects and there can be no assurance that such statements will prove to be accurate. Accordingly, readers should not place undue reliance on forward-looking statements.Further information can be found in the disclosure documents filed by The Brick Ltd. with the securities regulatory authorities, available at and on the Corporation's website further information: Contact Information  Bill Gregson President & CEO The Brick Group (780) 930-6300      Greg Nakonechny VP Legal & Corporate Secretary The Brick Group (780) 930-6300