Calgary Co-op Purchases Land for Future Site in West Springs

January 16, 2003, Calgary, Alberta - The Calgary Co-operative Association (Calgary Co-op) has conditionally purchased 6.7 acres of commercially zoned land in the West Springs area in southwest Calgary for future development.

Located at the southwest corner of the intersection of 9th Avenue and 85th Street SW, this site will become the future home of a Calgary Co-op food store, which will anchor the shopping centre. The site will also include a Calgary Co-op gas bar with convenience store, a Calgary Coop liquor store, and additional businesses and services in commercial rental units in the complex.

"Acquiring land in southwest Calgary, positions Calgary Co-op to better serve residents who live in existing communities in this trading area, as well as several new communities being established in this growing part of the city," says Milford Sorensen, chief executive officer for Calgary Co-op. Preliminary plans are to open a Calgary Co-op gas bar, convenience store and car wash in late 2004 to early 2005, with construction of the new 45,000 to 50,000 square foot Calgary Co-op food store to follow, contingent upon residential growth in the trading area.

Locally owned and operated, Calgary Co-op is one of the largest retail co-operatives in North America, with assets of $252 million, annual sales of $731 million, 380,000 members and 3,500 employees. Calgary Co-op currently operates eighteen retail shopping centres in Calgary, Airdrie and Strathmore, Alberta, and has its head office in northeast Calgary.

For more information, contact:

Milford Sorensen, Chief Executive Officer
Calgary Co-operative Association Limited
Telephone: 403-219-6025

Darwin Flathers, Vice President, Capital Investment & Development
Telephone: 403-219-6025, ext. 6131

Donna Burn, Director, Member and Public Relations
Telephone: 403-219-6025, ext. 6258