The Jean Coutu Group (PJC) Inc.
TSX : PJC.SV.A

The Jean Coutu Group (PJC) Inc.

March 01, 2005 00:00 ET

The Jean Coutu Group Completes Exchange Offer For 7 5/8% Senior Notes Due 2012 and 8 1/2% Senior Subordinated Notes Due 2014

LONGUEUIL, March 1 /CCNMatthews/ - The Jean Coutu Group (PJC) Inc. ("PJC"
or "the Company") today announced that it has closed its exchange offer,
pursuant to which the Company's unregistered 7 5/8% Senior Notes due 2012,
which were issued on July 30, 2004, were exchanged for new 7 5/8% Senior Notes
due 2012, which have been registered under the Securities Act of 1933, as
amended, and the Company's unregistered 8 1/2% Senior Subordinated Notes due
2014, which were issued on July 30, 2004, were exchanged for new 8 1/2% Senior
Subordinated Notes due 2014, which have been registered under the Securities
Act of 1933, as amended. All of the $350 million aggregate principal amount
of the Company's unregistered Senior Notes and all of the $850 million
aggregate principal amount of the Company's unregistered Senior Subordinated
Notes were exchanged in the exchange offer.

About The Jean Coutu Group

The Jean Coutu Group (PJC) Inc. is the fourth largest drugstore chain in
North America and the second largest in both the eastern United States and
Canada. The Company and its combined network of 2,225 corporate and affiliated
drugstores (under the banners of Eckerd, Brooks, PJC Jean Coutu, PJC Clinique
and PJC Santé Beauté) employ more than 60,000 people.
The Jean Coutu Group's United States operations employ over
46,000 persons and comprise 1,904 corporate owned stores located in 18 states
of the Northeastern, mid-Atlantic and Southeastern United States. The Jean
Coutu Group's Canadian operations and drugstores affiliated to its network
employ over 14,000 people and comprise 321 PJC Jean Coutu franchised stores in
Quebec, New Brunswick and Ontario.

"Safe Harbor" Statement under the U.S. Private Securities Litigation
Reform Act of 1995: Certain statements contained in this press release
may constitute "forward-looking statements" within the meaning of the
U.S. Private Securities Litigation Reform Act of 1995. Such forward-
looking statements involve a number of known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of the Company to be materially different
from any future results, performance or achievements expressed or implied
by such forward-looking statements. The words "looking forward," "looking
ahead," "believe(s)," "should," "may," "expect(s)," "anticipate(s),"
"likely," "opportunity," and similar expressions, among others, identify
forward-looking statements. The Company undertakes no obligation to
update any forward-looking statements contained in this press release.



For further information: Michael Murray, Director, Investor Relations,
The Jean Coutu Group (PJC) Inc., (450) 646-9611 ext. 1068, Hélène Bisson,
Media and Public Relations, (514) 842-8860, ext. 343; Source: André Belzile,
Senior Vice-President Finance and Corporate Affairs, The Jean Coutu Group
(PJC) Inc., (450) 646-9760