Canadian Tire Selects SEI Investments To Manage Deferred Profit Sharing Plan Assets

TORONTO, Oct. 7 /CNW/ - SEI Investments, a global leader in retirement outsourcing solutions, has been awarded a mandate to manage up to $200 million in assets in the SEI LifePath Funds for the Canadian Tire Deferred Profit Sharing Plan. Canadian Tire's deferred profit sharing plan, unlike defined pension plans, is funded entirely by annual contributions and is one of the larger plans of its kind in the country. Canadian Tire is a pioneer in Canadian profit sharing programs, first introducing its unique program in 1968. "SEI's approach fits with the goal of the Trustees of the Canadian Tire Deferred Profit Sharing Plan to ensure employees have strong investment choices, as well as an asset allocation approach that is customized to each employee's retirement situation and risk tolerance," said Patrick Walsh, President and Chief Executive Officer of SEI Investments Canada. "As a long-standing client, Canadian Tire recognized the unique strength of SEI's manager-of-managers approach, which provides access to a wide range of world-class investment managers, all selected and risk-managed by SEI according to our motto, "Every Manager, Every Trade, Every Day(TM)." "As shareholders through our distinctive profit sharing plan, our team members have a vested stake in the success of Canadian Tire. Our plan Trustees felt that SEI's LifePath approach provides strong investment choices that are easy to understand, well-diversified and risk-managed," said Janice Wismer, Vice-President, Human Resources. SEI Investments is North America's No. 1 leader in manager-of-manager programs(*), one of the fastest growing segments of the asset management industry. Using global research to identify, hire and oversee specialist money managers, SEI provides diversification and performance consistency while minimizing risk. The SEI LifePath Funds are highly diversified asset allocation vehicles specially designed for employee savings plans. About Canadian Tire Canadian Tire Corporation, Limited (TSX: CTR.a, CTR) operates more than 1,000 stores, gas bars and car washes in an inter-related network of businesses engaged in retail, financial services and petroleum. Canadian Tire Retail, with 450 stores operated by Associate Dealers across Canada, is the country's most-shopped retailer, offering a unique mix of products and services. www.canadiantire.ca offers Canadians the opportunity to shop online. PartSource is an automotive parts specialty chain with 34 stores designed to meet the needs of major purchasers of automotive parts - professional automotive installers and serious do-it-yourselfers. Canadian Tire Petroleum is one of the country's largest and most productive independent retailers of gasoline, operating 220 gas bars and 41 car washes. Mark's Work Wearhouse is a specialty retail organization that operates 308 stores in Canada, selling casual work and work-related apparel and footwear. Canadian Tire Financial Services manages related financial products and services for retail and petroleum customers, and also markets other value-added products to Canadian Tire customers. More than 45,000 Canadians work across Canadian Tire's organization from coast-to-coast in the enterprise's retail, financial services, and petroleum businesses. About SEI SEI Investments (NASDAQ:SEIC) is a leading global provider of asset management and investment technology solutions. The company's innovative solutions help corporations, financial institutions, financial advisors, and affluent families create and manage wealth. As of the period ending June 30, 2003, SEI administers $318 billion in mutual fund and pooled assets, manages over $116 billion in assets, processes almost $68 trillion of investment transactions annually and operates 21 offices in 10 countries. For more information, visit www.seic.ca.