Sears Holdings (SHLD)

Property Acquisitions

During fiscal 2008 and fiscal 2007, we purchased 9 and 28 previously leased operating properties for $22 million and $109 million, respectively. During fiscal 2009, we did not purchase any previously leased operating properties. In the normal course of business, we consider opportunities to purchase leased operating properties, as well as offers to sell owned, or assign leased, operating and non-operating properties. These transactions may, individually or in the aggregate, result in material proceeds or outlays of cash. In addition, we review leases that will expire in the short-term in order to determine the appropriate action to take with respect to them.

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SEARS HOLDINGS CORPORATION

Notes to Consolidated Financial Statements—(Continued)

Property Acquisitions

During fiscal 2008, fiscal 2007, and fiscal 2006, we purchased 9, 28 and 8 previously leased operating properties for $22 million, $109 million, and $26 million, respectively. In the normal course of business, we consider opportunities to purchase leased operating properties, as well as offers to sell owned, or assign leased, operating and non-operating properties. These transactions may, individually or in the aggregate, result in material proceeds or outlays of cash. In addition, we review leases that will expire in the short-term in order to determine the appropriate action to take with respect to them.

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SEARS HOLDINGS CORPORATION

Notes to Consolidated Financial Statements—(Continued)

Property Acquisitions

During fiscal 2007, fiscal 2006, and fiscal 2005, we purchased 28, 8 and 19 previously leased operating properties for $109 million, $26 million, and $98 million, respectively. In the normal course of business, we consider opportunities to purchase leased operating properties, as well as offers to sell owned, or assign leased, operating and non-operating properties. These transactions may, individually or in the aggregate, result in material proceeds or outlays of cash. In addition, we review leases that will expire in the short-term in order to determine the appropriate action to take with respect to them.

Property Acquisitions

During fiscal 2006, fiscal 2005, and fiscal 2004, the Company purchased 8, 19 and 31 previously leased operating properties for $26 million, $98 million, and $124 million, respectively. In the normal course of business, the Company considers opportunities to purchase leased operating properties, as well as offers to sell owned, or assign leased, operating and non-operating properties. These transactions may, individually or in the aggregate, result in material proceeds or outlays of cash. In addition, the Company reviews leases that will expire in the short-term in order to determine the appropriate action to take with respect to them.