Desjardins Securities Inc. has apologized for comments made by one of its analysts about the battle by U.S.-based Sears Holdings Corp. to take its Canadian division private.

In the April 6 broadcast of “The Trading Desk with Pat Bolland” on Report on Business TV, and in a newspaper article in the April 8 edition of the “National Post”, Ronald Mayers of Desjardins Securities made statements regarding the current take-over bid by Sears Holdings Corporation for Sears Canada Inc. which could have been misconstrued. This subject was also addressed in the April 7 and 10 issues of Desjardins Securities’ publication, “Morning Pulse”.

In a news release Desjardins said: “There is no basis in fact to conclude, and Desjardins Securities and Mr. Mayers unequivocally do not assert, that Sears Holdings Corporation has entered into any agreements, commitments or understandings collateral to the agreements to tender into the take-over bid announced on April 6, 2006. Desjardins Securities and Mr. Mayers apologize to Sears Holdings and regret any harm to Sears Holdings that may have been caused by statements made by Mr. Mayers and Desjardins Securities.”