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Sears Holdings Announces Increased Share Repurchase Authorization

    HOFFMAN ESTATES, Ill., Dec. 17 /PRNewswire-FirstCall/ -- Sears Holdings
Corporation (Nasdaq: SHLD) announced today that its Board of Directors has
approved the repurchase of up to an additional $500 million of the
Company's common shares. This authorization is in addition to the $82
million worth of shares that currently remain available for repurchase
under the Company's existing repurchase program. Share repurchases may be
implemented using a variety of methods, which may include open market
purchases, privately negotiated transactions, block trades, accelerated
share repurchase transactions, the purchase of call options, the sale of
put options or otherwise, or by any combination of such methods. Timing of
repurchases is dependent on prevailing market conditions, alternative uses
of capital and other factors.

    Since the beginning of fiscal year 2009 though December 16, 2009, the
Company repurchased 7.1 million common shares at a total cost of
approximately $423 million. As of December 16, 2009, we had approximately
114.7 million common shares outstanding.

    About Sears Holdings Corporation

    Sears Holdings Corporation is the nation's fourth largest broadline
retailer with approximately 3,900 full-line and specialty retail stores in
the United States and Canada. Sears Holdings is the leading home appliance
retailer as well as a leader in tools, lawn and garden, home electronics
and automotive repair and maintenance. Key proprietary brands include
Kenmore, Craftsman and DieHard, and a broad apparel offering, including
such well-known labels as Lands' End, Jaclyn Smith and Joe Boxer, as well
as the Apostrophe and Covington brands. It also has the Country Living
collection, which is offered exclusively by Sears and Kmart. We are the
nation's largest provider of home services, with more than 12 million
service calls made annually. Sears Holdings Corporation operates through
its subsidiaries, including Sears, Roebuck and Co. and Kmart Corporation.
For more information, visit Sears Holdings' website at
http://www.searsholdings.com.


SOURCE Sears Holdings Corporation





 

 
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CONTACT: Sears Public Relations and Communications,
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