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Press release from GlobeNewswire (a Nasdaq OMX company)

Hudson's Bay Company Announces Closing of Over-Allotment Option

Friday, December 28, 2012

Hudson's Bay Company Announces Closing of Over-Allotment Option06:02 EST Friday, December 28, 2012/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/ TORONTO, Dec. 28, 2012 (GLOBE NEWSWIRE) -- Hudson's Bay Company (TSX:HBC) ("HBC") announced today that the underwriters have purchased an additional 900,000 common shares of HBC at a price of $17.00per share, pursuant to the exercise of an over-allotment option granted to the underwriters in connection with the previously announced initial public offering of common shares of HBC, which closed on November 26, 2012. HBC did not receive proceeds from the sale of these additional common shares. The common shares of HBC are listed on the Toronto Stock Exchange under the symbol "HBC." As a result of the exercise of the over-allotment option, the selling shareholder, Hudson's Bay Company (Luxembourg) S. à r. l, now holds an aggregate 80.9 per cent equity and voting interest in HBC on a non-diluted basis (compared to 81.7 per cent had the over-allotment not been exercised). The initial public offering was made through a syndicate of underwriters led by RBC Dominion Securities Inc., BMO Capital Markets, CIBC World Markets Inc., and BofA Merrill Lynch who acted as joint bookrunners. No securities regulatory authority has either approved or disapproved of the contents of this news release. The securities being offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the ''U.S. Securities Act''), or any state securities laws, and may not be offered or sold in the United States unless pursuant to an exemption therefrom. This press release is for information purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities of Hudson's Bay Company in any jurisdiction.ABOUT HUDSON'S BAY COMPANY Hudson's Bay Company ("HBC"), founded in 1670, is North America's longest continually operated company and is a leading retailer offering a wide selection of branded merchandise in Canada and the United States through its three banners. In the United States, HBC operates Lord & Taylor, a fashion department store with 48 full-line store locations throughout the northeastern United States and in two major cities in the Midwest. In Canada, HBC operates Hudson's Bay, Canada's largest national branded department store with 90 locations. HBC also operates Home Outfitters, a kitchen, bed and bath superstore with 69 locations. With approximately 29,000 associates in Canada and the U.S., Hudson's Bay Company banners provide stylish, quality merchandise at great value and with a dedicated focus on exceeding customers' expectations.CONTACT: INVESTOR RELATIONS: Lucas Evans Senior Vice President and Treasurer Hudson's Bay Company Phone: (416) 861-4444 Email: investorrelations@hbc.com MEDIA CONTACTS: Stephanie Thornbury Divisional Vice President, Communications Hudson's Bay Company Phone: (416) 436-8086 Email: stephanie.thornbury@hbc.com Tiffany Bourre Senior Manager, External Communications Hudson's Bay Company Phone: (905) 595-7184 Email: tiffany.bourre@hbc.com