1 during the second quarter of fiscal 2008

As a result of the deterioration ofthe economic environment in the United States, combined with the severityof the decline in the trading value of Rite Aid common shares for anextended period, the Company anticipates performing, during the fourthquarter, a comprehensive analysis related to its investment in Rite Aid.During this third quarter, the Company has recorded a preliminaryprovision of $357.8 million ($1.49 per share) against the carrying valueof its investment. Some elementshad an impact on the operating income as opposed to last year'scomparable period. The increase in sales and the operations of theCompany's subsidiary Pro Doc Ltd had a favourable impact on the operatingincome. On the other hand, the generic drug price reductions and thedecrease in the average wholesaler margin for prescription drugdistribution from 6.33 in the second quarter of fiscal 2008 to 6 in thecurrent quarter had a negative impact on the operating income. Inaddition, there has been an increase in the amortization on incentivespaid to franchisees following higher incentive payments that occurredduring the 39-week period ended November 29, 2008.In fiscal 2009, the Company changed its method of invoicing certainvendor revenues from a method mainly based on expense reimbursement toone based on volumes purchased Consequently, these revenues are nowrecorded as a reduction of the cost of goods sold account. In fiscal2008, vendor revenues and expenses related thereto were recorded on a netbasis in general and operating expenses, with the excess allocated to thecost of goods sold account.The Company recorded its share of Rite Aid's results during the thirdquarter of fiscal 2009. The share of Rite Aid's loss in the Company'sthird quarter fiscal 2009 earnings amounted to $73.9 million ($73.9million or $0.30 after-tax per Jean Coutu Group share) compared with$31.6 million ($26.1 million or $0.10 after-tax per Jean Coutu Groupshare) during the comparable period last fiscal year.Earnings before specific items and the share of Rite Aid's loss amountedto $36.7 million ($0.15 per share) during the third quarter of fiscal2009 compared with $41.5 million ($0.16 per share) for the fiscal quarterended December 1, 2007.

Earnings before specific items and the share ofRite Aid's loss amounted to $104.1 million ($0.43 per share) during thefirst nine months of fiscal 2009 compared with $99.8 million ($0.38 pershare) for the comparable period.Canadian OperationsRetail salesRetail sales growth percentages quoted herein are based on comparableperiods.During the third quarter, the Company's Canadian franchise network showeda 5.0 increase in total retail sales compared with last year'scomparable period. Retail sales for the period amounted to $850.0 million.For the 39-week period, on a same-store basis, total PJC network retailsales increased 3.7, pharmaceutical sales gained 5.6 and front-endsales increased 0.5 compared with last year.RETAIL SALES GROWTHComparableYear-to-dateperiod(Unaudited) Q3-2009Q2-2008Fiscal 2009 2007-2008-CANADA (1)Total sales growthTotal 5.0 6.8 5.07.0Pharmacy6.5 9.8 6.99.2Front-end 3.1 1.1 1.83.4Same store sales growthTotal 3.2 6.1 3.76.5Pharmacy4.5 9.5 5.68.9Front-end 1.6 0.0 0.52.5(1) Franchised outlets' retail sales are not included in the Company'sconsolidated financial statements.Distribution center salesCanadian operations distribution center sales amounted to $562.1 millionin the third quarter of fiscal 2009 compared with $526.6 million for thefiscal quarter ended December 1, 2007, an increase of 6.7.OIBAOIBA for Canadian operations amounted to $60.1 million in the thirdquarter of fiscal 2009 compared with $59.0 million for the second quarterof fiscal 2008, an increase of almost 2 despite generic drug pricereductions and the decrease in the average wholesaler margin forprescription drug distribution from 6.33 in the second quarter of fiscal2008 to 6 in the current quarter. The increase in OIBA is mostlyattributable to the increase in revenues. OIBA as a percentage ofrevenues for Canadian operations ended the third quarter at 9.7 comparedto 10.1 during the second quarter of fiscal 2008.OIBA as a percentage of revenues for Canadian operations ended the39-week period at 9.7 compared with 10.1 for the comparable period.Store network developmentDuring the third quarter of fiscal 2009, there were 11 store openingsincluding one new store, 4 acquisitions and 6 relocations. As of November29, 2008, there were 348 stores in the PJC Jean Coutu drugstore network.Asset Backed Commercial Paper ("ABCP")In light of the updated information available during the three monthperiod ended November 29, 2008, changes in the credit market conditionsand a review of the valuation assumptions taking into account newinformation, the Company reassessed the fair value of its investments inABCP.The discounted cash flows resulted in an estimated fair value of theinvestment in ABCP of $25.2 million as at November 29, 2008, resulting inan additional loss in value of $3.6 million ($3.7 million for comparableperiods) for the 13- and 39-week periods ended on that date. The totalloss in value with respect to ABCP recorded is $10.7 million (of which$7.1 million was recorded during the fiscal year ended March 1, 2008),representing approximately 30 of the nominal amount.Normal Course Issuer BidOn July 8, 2008, the Company announced its intention to purchase forcancellation up to 12,311,000 of its outstanding Class A subordinatevoting shares, representing approximately 10 of the current public floatof such shares, over a 12-month period ending no later than July 10, 2009.During the third quarter of fiscal 2009, the Company purchased 6,099,044Class A subordinate voting shares at an average price of $7.32 per sharefor a total amount of $44.7 million.

For the 39-week period endedNovember 29, 2008, the Company purchased 12,311,000 Class A subordinatevoting shares at an average price of $7.42 per share for a total amountof $91.4 million and therefore completed the purchase planned for the 12month period ending July 10, 2009 These shares were cancelled as ofNovember 29, 2008. During fiscal 2008, the Company purchased 13,672,800Class A subordinate voting shares at an average price of $12.93 per sharepursuant to a Normal Course Issuer Bid.The Company has determined that the purchase of its Class A shares allowsit to optimize its capital structure and create long-term value forshareholders.DividendThe Board of Directors declared a quarterly dividend of $0.04 per sharepayable on February 6, 2009 to all holders of Class A shares and holdersof Class B shares listed in the Company's shareholder ledger as atJanuary 23, 2009.OutlookWith operations in Canada and financial flexibility, the Company is wellpositioned to capitalize on the growth in the drugstore retailingindustry. Demographic trends are expected to contribute to growth in theconsumption of prescription drugs, and to the increased use ofpharmaceuticals as the primary intervention in individual healthcare.Management believes that these trends will continue despite the currenteconomic slowdown, and that the Company will grow its revenues throughdifferentiation and quality of offering and service levels in itsCanadian drugstore network, which it operates with a focus on salesgrowth, its real estate program and operating efficiency.Conference callFinancial analysts are invited to attend the third quarter resultsconference call to be held on January 8, 2009, at 9:00 AM (ET). The tollfree call-in number is 1-888-789-9572 - access code 3273575 followed bypound sign (). Readers may also access additional information andfilings related to the Company using the following link to the website.About The Jean Coutu GroupThe Jean Coutu Group (PJC) Inc.

operates a network of 348 franchiseddrugstores in Canada located in the provinces of Quebec, New Brunswickand Ontario (under the banners of PJC Jean Coutu, PJC Clinique and PJCSante Beaute) and employs more than 16,000 people. All statements that address expectations orprojections about the future, including statements about the Company'sstrategy for growth, costs, operating or financial results, areforward-looking statements. All statements other than statements ofhistorical facts included in this press release, including, statementsregarding the prospects of the Company's industry and the Company'sprospects, plans, financial position and business strategy, mayconstitute forward-looking statements within the meaning of the Canadiansecurities legislation and regulations. Some of the forward-lookingstatements may be identified by the use of forward-looking terminologysuch as "may," "will," "expect," "intend," "estimate," "project","could", "anticipate," "plan," "foresee," "believe" or "continue" or thenegatives of these terms or variations of them or similar terminology.Although The Jean Coutu Group believes that the expectations reflected inthese forward-looking statements are reasonable, it can give no assurancethat these expectations will prove to have been correct. These statementsare not guarantees of future performance and involve a number of risks,uncertainties and assumptions.