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Press release from CNW Group

The Brick Ltd. Secures New Credit Facility with Improved Terms

Friday, March 09, 2012

The Brick Ltd. Secures New Credit Facility with Improved Terms16:00 EST Friday, March 09, 20125 year facility at reduced rates with increased flexibility/NOT FOR DISTRIBUTION THROUGH U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE U.S./EDMONTON, March 9, 2012 /CNW/ - The Brick Ltd. (TSX: BRK) (the "Brick Group") today announced that, effective March 9, 2012, it entered into a new 5 year $100 million asset-based credit facility with BMO Bank of Montreal as the lead lender, replacing its previous facility with GE Capital. The new facility also includes a $50 million accordion feature that could potentially increase the total borrowing capacity to $150 million."I am very pleased with the terms secured under our new credit facility, which we successfully concluded in advance of the May 28, 2012 maturity of our GE facility. We look forward to a long term relationship with the Bank of Montreal. Although we have not borrowed any funds under the previous credit facility with GE Capital since March, 2010, the new 5 year facility will positively support operations, our debt repayment initiatives and the future growth of our business," commented Vi Konkle, President and CEO of the Brick Group."We also wish to thank GE Capital for their dedication and support since negotiating the original 3 year asset-based credit facility in May of 2009," added Ms. Konkle.The Brick Group is scheduled to release its fourth quarter 2011 financial results on March 20, 2012 and will host an investor conference call on March 21, 2012 at 10:00 am Eastern Time.To access the call, dial 647-427-7450 or 1-888-231-8191. Conference call ID: 53743857. For a listen-only webcast, log on to prior to the scheduled meeting time.Previous financial statements and Management's Discussion and Analysis are available in within the investor section of the Brick Group's website at 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 four banners: The Brick, United Furniture Warehouse, The Brick Mattress Store, and Urban Brick. In addition, through its corporate sales division, the Brick Group services the subdivision, condominium, hospitality and high-rise builder market. The Brick Group's retail and franchise operations are located in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec, Prince Edward Island, Nova Scotia, New Brunswick, the Northwest Territory 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 Group'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 Group 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 Group to differ materially from anticipated future results, performance or achievement expressed or implied by such forward-looking statements. The Brick Group 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.www.thebrick.comFor further information: Vi Konkle President and CEO The Brick Group (780) 930-6300 Ken Grondin CFO and President, Financial Operations The Brick Group (780) 930-6300