RONA Inc. Announces Extension and Increase to $300 Million of the Maximum Amount of Its Previously Announced Modified "Dutch Auction" Offer

BOUCHERVILLE, QUEBEC--(Marketwire - Nov. 22, 2011) - RONA inc. ("RONA") (TSX:RON)(TSX:RON.PR.A) announced today it has extended the Offer 1 Expiration Date and the Offer 1 Settlement Date and increased the Maximum Aggregate Principal Tender Amount of "Offer 1" of its previously announced Offers (as defined below). As announced on November 3, 2011, Offer 1 is the first of two successive offers to purchase for cash (collectively, the "Offers") a portion of RONA's 5.40% Debentures due October 20, 2016 (Unsecured) (the "Debentures"). Capitalized terms used and not defined herein have the meanings given to them in the Offer to Purchase (as defined below).

The deadline for tendering Debentures in Offer 1 has been extended to 5:00 p.m., Montreal time, November 28, 2011 (the "Offer 1 Expiration Date") and the Offer 1 Settlement Date has been extended to December 1, 2011.

In addition, the Maximum Aggregate Principal Tender Amount RONA is offering to purchase under Offer 1 has been increased from $200 million aggregate principal amount of Debentures to $300 million aggregate principal amount of Debentures. As previously announced by RONA on November 15, 2011, the Reference Yield is 1.374%, and the range of acceptable Bid Prices for Offer 1 is from $1,001.19 to $1,022.73.

RONA has been advised that as of 5:00 p.m., Montreal time, on November 22, 2011, approximately $242,925,000 aggregate principal amount of Debentures had been tendered in Offer 1.

In addition to the foregoing, RONA is amending the terms and conditions of the Offer to Purchase, by reducing from 10 business days to 4 business days the number of business days that must remain until the Offer 1 Expiration Date.

RONA will issue a press release disclosing the final results of Offer 1 promptly following 5:00 p.m., Montreal time, on November 28, 2011. RONA expects to make payment for the Debentures accepted for purchase pursuant to Offer 1 on December 1, 2011 (the "Offer 1 Settlement Date"), and all other Debentures tendered but not accepted for purchase will be returned to holders.

As a result of the foregoing, Offer 2 is amended such that Offer 2 will be open for tenders at 9:00 a.m. on November 29, 2011 (the "Offer 2 Tender Date"), will expire at 5:00 p.m., Montreal time, on December 12, 2011 (the "Offer 2 Expiration Date") and that the settlement date for Offer 2 will occur on December 19, 2011 (the "Offer 2 Settlement Date").

All other terms and conditions of the Offers remain as set forth in the offers to purchase of RONA dated November 3, 2011 (as they may be amended or supplemented from time to time, collectively the "Offer to Purchase") and the related Letter of Transmittal. In particular, the Offer 1 Withdrawal Date remains unchanged (5:00 p.m., Montreal time, November 22, 2011) and any Debentures tendered in Offer 1 may no longer be withdrawn.

The Offers are subject to certain conditions described in the Offer to Purchase. RONA expressly reserves the right, in its sole discretion, subject to applicable law, to terminate any one or both of the Offers at any time and for any reason.

RONA has retained Scotia Capital Inc. to act as Dealer Manager for the Offers. Computershare Investor Services Inc. has been retained to act as the depositary for the Offers and Kingsdale Shareholder Services Inc. has been retained to act as the information agent for the Offers. For additional information regarding the terms of the Offers, please contact Scotia Capital Inc. at 1-888-776-3666 or 1-416-863-7257. Requests for documents and questions regarding the tendering of Debentures may be directed to either Computershare Investor Services Inc. at 1-800-564-6253 or 1-514-982-7555 or Kingsdale Shareholder Services Inc. at 1-866-851-2743 or 1-416-867-2272.

This Press Release does not constitute an offer to sell or purchase, or a solicitation of an offer to sell or purchase, or the solicitation of tenders or consents with respect to, the Debentures. No offer, solicitation, purchase or sale will be made in any jurisdiction in which such an offer, solicitation, or sale would be unlawful. The Offers are being made solely pursuant to the Offer to Purchase made available to holders of the Debentures. None of RONA, the Dealer Manager, the Depositary, the Information Agent or their respective affiliates is making any recommendation as to whether or not holders should tender all or any portion of their Debentures in the Offers. Holders are urged to evaluate carefully all information in the Offer to Purchase, consult their own investment and tax advisors and make their own decisions whether to tender Debentures, and, if so, the principal amount of Debentures and the Bid Price at which to tender.

Forward-looking statements

This Press Release includes "forward-looking statements" that involve risks and uncertainties. All statements other than statements of historical facts included in this Press Release, including statements regarding prospects, plans, financial position and business strategy of RONA, the timing for completion of the Offers, or concerning the amount of Debentures to be purchased in the Offers and the date of payment thereof, may constitute forward-looking statements within the meaning of the Canadian securities legislation and regulations. Investors and others are cautioned that undue reliance should not be placed on any forward-looking statements. The forward-looking statements in this Press Release reflect RONA's expectations as at November 22, 2011, and are subject to change after this date. RONA expressly disclaims any obligation or intention to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless required by the applicable securities laws. For more information on the risks, uncertainties and assumptions that would cause RONA's actual results to differ from current expectations, please also refer to RONA's public filings available at www.sedar.com and www.rona.ca. In particular, further details and descriptions of these and other factors are disclosed in the MD&A under the "Risks and uncertainties" section and in the "Risk factors" section of RONA's current Annual Information Form.

About RONA

RONA is the largest Canadian distributor and retailer of hardware, home renovation and gardening products. RONA operates a network of more than 950 corporate, franchise and affiliate stores of various sizes and formats. With close to 30,000 employees working under its family of banners in every region of Canada and more than 17 million square feet of retail space, the RONA store network generates over $6 billion in annual retail sales. For more information, please visit www.rona.ca.