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Seaway Valley Capital Corporation's Hackett's Stores to Pay Off Bank Indebtedness
Within Two Weeks

--- New Chief Operating Officer, Herbert Becker, Details Changes, Achievements -

GOUVERNEUR, N.Y., July 8, 2009 /PRNewswire-FirstCall via COMTEX/ -- Seaway Valley
Capital Corporation (SWVL), a diversified holding company, with the wholly owned
subsidiary Hackett's Stores, Inc. (Pink Sheets: HCKE), today announced that it
anticipates having its entire bank loan paid within two weeks.

Newly appointed Vice President and COO, Herbert Becker, said that this
"represents debt repayments of well over $5 million in 2009 alone." Mr. Becker
continued, "We have been aggressively promoting our merchandise to our customers,
and this has generated significant sales and cash flows."

Mr. Becker stated that Hackett's is working to keep the Ogdensburg, Tupper Lake,
Sackets Harbor and Potsdam stores open, and also is looking to open a new store
at the Queensbury Plaza in Queensbury, NY. "For Hackett's, our new slogan could
become 'Where we are is who we are' since we plan to continue to have the core of
Hackett's as name brand product but we expect to add product that better reflects
the needs of the communities in which we are located," Mr. Becker added.

"Mr. Becker has a diverse and strong background in retailing, having helped guide
some high profile, fast growing companies," said Thomas W. Scozzafava, CEO,
Seaway Valley Capital. "He is making significant changes, positive contributions,
including changing our dynamics by launching an e-commerce division for Hackett's
products. We are confident in Mr. Becker's ability to both streamline operations
and pinpoint what is needed to broaden the customer base."

About Patrick Hackett Hardware Company

Hackett's Click for Detail, one of the nation's oldest retailers
with roots dating back to 1830, is a full line department store specializing in
name brand merchandise and full service hardware. Hackett's features brand name
clothing for men, women, and children, and a large selection of brand name
athletic, casual, and work footwear. Hackett's also carries domestics, home
decor, gifts, seasonal merchandise and sporting goods. Hackett's full service
hardware department features traditional hardware, tools, plumbing, paint and
electrical departments.

About Seaway Valley Capital Corporation

Seaway Valley Capital Corporation Click for Detail