Press Releases

Shoppers Drug Mart Corporation files final short form base shelf prospectus for up to $1 billion of medium term notes

May 22, 2008

/NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE
SERVICES/

TORONTO, May 22 /CNW/ - Shoppers Drug Mart Corporation (TSX: SC) today
announced that it has filed, with the securities regulators in each of the
provinces of Canada, a final short form base shelf prospectus for the issuance
of up to $1 billion of medium term notes. Subject to the requirements of
applicable law, medium term notes can be issued under the final prospectus for
up to 25 months from the date of the final receipt. No incremental debt has
been incurred by the Company as a result of this filing.
Any offering of medium term notes under the prospectus is expected to be
made by way of a prospectus supplement or pricing supplement to the final
short form base shelf prospectus. The final short form base shelf prospectus,
including the documents incorporated by reference therein, contains important
information concerning these securities and is available on SEDAR at
www.sedar.com. Prospective investors should read the final short form base
shelf prospectus, as supplemented and amended from time to time, before making
any investment decision.
The securities referred to herein have not been and will not be
registered under the United States Securities Act of 1933, as amended, or any
state securities laws and may not be offered, sold or delivered within the
United States of America and its territories and possessions except in certain
transactions exempt from such registration requirements.

About Shoppers Drug Mart Corporation

Shoppers Drug Mart Corporation is one of the most recognized and trusted
names in Canadian retailing. The Company is the licensor of full-service
retail drug stores operating under the name Shoppers Drug Mart (Pharmaprix in
Québec). With more than 1,095 Shoppers Drug Mart and Pharmaprix stores
operating in prime locations in each province and two territories, the Company
is one of the most convenient retailers in Canada. The Company also owns and
operates 65 Shoppers Home Health Care stores, making it the largest Canadian
retailer of home health care products and services. In addition to its retail
store network, the Company owns MediSystem Technologies Inc., a provider of
pharmaceutical products and services to long-term care facilities in Ontario
and Alberta.

%SEDAR: 00016987EF

For further information: Media Contact: Tammy Smitham, Director, Communications & Corporate Affairs, (416) 490-2892, or corporateaffairs@shoppersdrugmart.ca, (416) 493-1220, ext. 5500; Investor Relations: (416) 493-1220, ext. 5678, investorrelations@shoppersdrugmart.ca


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