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Sears Canada declares quarterly dividend
    TORONTO, April 22 /CNW/ - (TSX: SCC) - The Board of Directors of Sears
Canada Inc. today declared a quarterly dividend of 6 cents a share on all
common shares of the Corporation.
    The dividend is payable on the 16th day of June, 2003 to shareholders of
record on the 15th day of May, 2003.

For further information: Vince Power, Sears Canada Inc., (416) 941-4422
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding Sears Canada Inc.'s business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.