Press Releases

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

May 14, 2008

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

TORONTO, May 14 /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 preliminary short form base shelf prospectus for the
issuance of up to $1 billion of medium term notes. Subject to obtaining a
receipt for a final short form base shelf prospectus, 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.
The preliminary short form base shelf prospectus filed today has not yet
become final for the purpose of a distribution to the public and is still
subject to completion or amendment. This news release shall not constitute an
offer to sell or the solicitation of an offer to buy, nor shall there be any
sale or any acceptance of an offer to buy these securities in any province of
Canada prior to the time a receipt for the final prospectus or other
authorization is obtained from the securities commission or similar authority
in such province. The preliminary short form base shelf prospectus contains
important information concerning these securities and is available on SEDAR at
www.sedar.com.
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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