TMX group

TORONTO, July 19 /CNW/ - In connection with its previously disclosed plan
to sell its aquaculture business, George Weston Limited ("Weston") announced
today it has entered into an agreement with EWOS Canada Ltd., a subsidiary of
the Norwegian based Cermaq ASA, for the sale of its Canadian west coast
aquaculture business. The sale is subject to regulatory approval.
Combined with the previously announced sale of its east coast aquaculture
business, upon the closing of this transaction, Weston will have completed the
sale of the remaining discontinued Fisheries operations. Weston will receive
total net proceeds for this discontinued business of approximately
$38 million, which will result in an after tax loss on sale of approximately
$24 million.

George Weston Limited is one of North America's largest food processing
and distribution groups operating in two segments: baking through Weston
Foods, and food and general merchandise distribution through Loblaw Companies
Limited.