Stropki Chairman and ChiefExecutive Officer

Dont purchase anything without getting addedvalue in this economy - sign up for loyalty programs such as Office DepotsWorklife Rewards program and look out for bundled product offerings to save.For more information, please visit your local Office Depot retail store locationor About Office DepotEvery day, Office Depot is Taking Care of Business for millions of customersaround the globe. For the local corner store as well as Fortune 500 companies,Office Depot provides products and services to its customers through 1,705worldwide retail stores, a dedicated sales force, top-rated catalogs and a $4.9billion e-commerce operation. Office Depot has annual sales of approximately$15.1 billion, and employs about 49,000 associates around the world. The Companyprovides more office products and services to more customers in more countriesthan any other company, and currently sells to customers directly or throughaffiliates in 48 countries. Office Depots common stock is listed on the New York Stock Exchange under thesymbol ODP and is included in the S&P 500 Index. Additional press informationcan be found at: Survey MethodologyPhone survey of 501 Working Moms, women working outside the home with childrenunder the age of 18, conducted by Braun Research over from January 9-14, 2009.The margin of error is /- 4.

Office DepotJason Shockley, orEmanateFarah Adhi, Copyright Business Wire 2009. CLEVELAND, Feb. 2 /PRNewswire-FirstCall/ - A greater than 10 global workforce reduction will generate annualizedsavings of approximately $50 million- Reduced work hours at Cleveland-based operations generate the equivalent ofa greater than 10 headcount reduction within the facility- Voluntary Separation Program for Cleveland-based employees initiated in Q12009- Executive Management team base salaries cut and overall 2009 compensationexpected to be reduced between 20 and 45- All merit increases and external hiring frozen- Annual capital expenditures to be reduced by a minimum of $20 million- Year-end cash balance in excess of $275 million, with no net debtLincoln Electric Holdings, Inc. (Nasdaq: LECO) today announced a number ofactions to lower its fixed and variable cost structure to align the Company'sbusiness with the current economic environment.These measures include thecontinuation of previously announced reduced work hours,cutting expenses anddiscretionary spending in all areas, reassigning employees under the Company'sGuaranteed Employment policy, canceling merit raises, instituting a basesalary reduction for its executive management (with overall compensationexpected to be reduced by as much as 45), suspending the Company's 401(k)match and offering a voluntary separation incentive program to itsCleveland-based employees."Lincoln Electric has a long history of effectively managing its coststructure through economic cycles," said John M. Stropki, Chairman and ChiefExecutive Officer."The variable compensation programs at our majoroperations in the U.S.

enable us to seamlessly adjust our manufacturing laborcost to market conditions without incremental cost to our business.However,the severity of global conditions has required us to institute additionalactions and target cost reductions in our Selling, General & Administrativeexpenses."The Company announced today that a voluntary separation program is beingoffered to all of its approximately 2,900 Cleveland bonus-eligible employees,regardless of years of service.Lincoln will also continue to reduce thenumber of temporary and contract workers.In addition, the Company isreleasing those employees who are not meeting performance expectations and isreviewing workers not covered by its Guaranteed Employment policy (employeeswith less than three years of continuous service and those not meetingperformance standards).The initiatives announced today are in addition to the headcount reductionsbegun during the second half of 2008 throughout its global subsidiaries.The combination of ongoing programs and actions announced today areanticipated to result in a greater than 10 reduction in the global workforcewith an annualized savings of approximately $50 million, excluding anyreduction in the profit-sharing bonus."The dynamics of the economic situation are very fluid, and we will adjust ourstrategies, implement new cost reduction initiatives, reduce capitalexpenditures by a minimum of $20 million and adapt other business objectivesas market conditions dictate," said Mr Stropki. The Company is in a very strong financial position and has a solid trackrecord of good cash flow generation and profitability in slower economicenvironments.Lincoln ends 2008 with a strong balance sheet and cash balancesof over $275 million and no net debt.Mr. We plan to emerge as a stronger, more capablecompany, better positioned to address the long-term needs of our globalcustomers and the welding industry." Lincoln Electric is scheduled to report 2008 fourth quarter and full yearfinancial results on February 23, 2009.Lincoln Electric is the world leader in the design, development andmanufacture of arc welding products, robotic arc-welding systems, plasma andoxyfuel cutting equipment and has a leading global position in the brazing andsoldering alloys market. For more information aboutLincoln Electric, its products and services, visit the Company's Web site at http:// Company's expectations and beliefs concerning the future contained in thisnews release are forward-looking statements within the meaning of the PrivateSecurities Litigation Reform Act of 1995.

These statements reflectmanagement's current expectations and involve a number of risks anduncertainties. The factors include, but are not limited to: general economic andmarket conditions; the effectiveness of operating initiatives; currencyexchange and interest rates; adverse outcome of pending or potentiallitigation; possible acquisitions; market risks and price fluctuations relatedto the purchase of commodities and energy; global regulatory complexity; andthe possible effects of international terrorism and hostilities on the Companyor its customers, suppliers and the economy in general For additionaldiscussion, see "Item 1A. Risk Factors" in the Company's Annual Report on Form10-K.SOURCELincoln Electric Holdings, Inc.Media Roy L. Morrow, 1-216-383-4893, , orInvestors Joe Kelley, 1-216-383-8346, , bothof Lincoln Electric Holdings, Inc.. WINNIPEG(Business Wire)Canwest Global Communications Corp.