July 31, 2009

Mayor Bloomberg to Preside at Grand Opening Ceremony for First-Ever JCPenney Store Today

Celebrity Designer Kimora Lee Simmons, American Idol's David Cook and Others Help JCPenney to Give Back and Celebrate at Special Events

PLANO, --(BUSINESS WIRE)-- In celebration of the grand opening of its first-ever in Manhattan, J. C. Penney Company, Inc. (NYSE:JCP) will hold a ceremony today in Greeley Square Park at 33rd Street and 6th Avenue, across from the store's entrance. At this inaugural event, which begins at 9:30 a.m., the Honorable Michael R. Bloomberg, Mayor of the City of New York, and JCPenney Chairman and Chief Executive Officer Myron E. (Mike) Ullman, III, will officially open the store and kick off a calendar of activities to introduce customers to Midtown Manhattan's newest shopping destination.

"After 107 years in business, opening our first Manhattan store is a milestone for JCPenney and a symbol of our progress in becoming the department store of choice for the moderate-price customer," Ullman said. "With a great location in one of the busiest shopping districts in America, this store will be a showcase for the stepped-up style, outstanding quality, affordable prices and exceptional service that sets JCPenney apart. We look forward to building on the great success we have had in the New York metro area and becoming part of the local community."

"JCPenney's decision to open its first store in Manhattan demonstrates great confidence in 's future and serves as the latest evidence that major companies and organizations continue to invest in our city," said Mayor Michael R. Bloomberg. "Its first store in Manhattan brings 500 new jobs to the City at a time when we need them most. Not only is gaining new jobs and new shopping opportunities, it's also gaining a terrific neighbor and corporate citizen. The company's contribution to the Mayor's Fund to Advance New York City for afterschool programming demonstrates its commitment to helping ensure our city's best days are yet to come."

Connecting with the Community

During the grand opening, the JCPenney Afterschool Fund will commemorate JCPenney's arrival in Manhattan with a $100,000 donation to the Mayor's Fund to Advance New York City to support the City's Out-of-School-Time Initiative. The donation will establish the JCPenney-sponsored After-School Arts Partnership (ASAP) as a means to provide children in afterschool programs with greater access to New York City's rich cultural offerings.

The JCPenney Afterschool Fund will also donate $50,000 to The After-School Corporation (TASC), a non-profit organization that advocates for comprehensive afterschool programs in New York City and across the nation.

In addition, from Aug. 5-16, the Manhattan store will participate in the nationwide JCPenney Afterschool Round-up, in which customers are invited to "round up" the total cost of their purchases to the next whole dollar, with 100 percent of the donation going to support afterschool programs. All Round-up donations collected at the Manhattan JCPenney will go to the Children's Aid Society of New York. The Children's Aid Society will also receive a $5,000 grant from the JCPenney Afterschool Fund to help the charity provide children in need with access to its afterschool programs.

Fashion, Music and Shopping With Kimora Lee Simmons

At the conclusion of the grand opening ceremonies on Friday morning, JCPenney and celebrity designer Kimora Lee Simmons - the inspiration behind the FabulosityTM fashion brand carried exclusively at JCPenney - will welcome more than 40 children representing the Children's Aid Society for a back-to-school shopping spree inside the store. Each child will receive a $100 JCPenney to be used for their purchases.

Throughout the day-long celebration, celebrity stylist Jorge Ramon will host live fashion shows in Greeley Square to showcase JCPenney's fall and back-to-school looks which are in stores now. The day will conclude with a free concert at 5 p.m. by New York-based indie recording artists Sleepy Rebels.

Coming Up: Street Marketing, Miss Universe and American Idol David Cook

The grand opening kicks off a two-month schedule of special events and celebrity appearances, including: -- July 31 - Aug. 4: JCPenney "street teams" will turn up in public spaces around Manhattan for fashion demonstrations and prize give-aways and to distribute entry forms for a chance to win a $1,000 shopping spree, while special JCPenney-branded pedicabs will offer free rides to the new store. -- Saturday, Aug. 1: Miss Universe and former Miss Venezuela Dayana Mendoza will visit the store from 1:30 to 3 p.m., followed from 4 to 5 p.m. by Telemundo novela stars Catherine Siachoque and Miguel Varoni, who will greet and take photos with their fans. -- Wednesday, Aug. 5: 2008 American Idolwinner, recording artist and Skechers brand front man David Cook will visit the store to greet fans and sign autographs.

A complete calendar of more than 30 in-store events, including additional celebrity and designer appearances and product demonstrations, is available online at www.jcp.com/nyc.

The Manhattan store is one of five JCPenney stores celebrating grand openings today - the others are in Hiram, Ga.; Lee's Summit, Mo.; Fairview, Texas; and Pleasant Prairie, Wis. Although JCPenney maintained its corporate office in Manhattan from 1914 to 1988, the store is the retailer's first in the borough. The 153,000-square-foot store carries the full range of private, exclusive and national brands that JCPenney offers and employs approximately 500 associates.

Regular store hours are Monday through Saturday from 9 a.m. to 9:30 p.m. and Sunday from 10 a.m. to 8:30 p.m. For directions and other store information, please visit www.jcp.com/nyc.

About JCPenney

JCPenney is one of America's leading retailers, operating 1,101 department stores throughout the and , as well as one of the largest apparel and home furnishing sites on the Internet, jcp.com, and the nation's largest general merchandise catalog business. Through these integrated channels, JCPenney offers a wide array of national, private and exclusive brands which reflect the Company's commitment to providing customers with style and quality at a smart price. Traded as "JCP" on the , the Company posted revenue of $18.5 billion in 2008 and is executing its strategic plan to be the growth leader in the industry. Key to this strategy is JCPenney's "Every Day Matters" brand positioning, intended to generate deeper, more emotionally driven relationships with customers by fully engaging the Company's approximately 150,000 Associates to offer encouragement, provide ideas and inspire customers every time they shop with JCPenney.

About The JCPenney Afterschool Fund

The JCPenney Afterschool Fund is a charitable organization committed to providing children in need with access to life-enriching afterschool programs that inspire children to be smart, strong and socially responsible. To date, JCPenney and the JCPenney Afterschool Fund have contributed more than $70 million to local afterschool programs in every JCPenney community through partnerships with the YMCA of the USA, Boys & Girls Clubs of America, National 4-H and United Way of America. For more information, visit www.jcpenneyafterschool.org for more information.

Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=6019857&lang=en

Source: J. C. Penney Company, Inc.